Pharma Mar (OTCMKTS:PHMMF) Shares Gap Up – Still a Buy?

Pharma Mar (OTCMKTS:PHMMF)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $86.0858, but opened at $97.3585. Pharma Mar shares last traded at $97.3585, with a volume of 166 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PHMMF shares. Chardan Capital upgraded shares of Pharma Mar to a “strong-buy” rating in a report on Tuesday, June 9th. Zacks Research upgraded shares of Pharma Mar to a “hold” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

Pharma Mar Price Performance

The firm’s 50 day moving average is $85.24 and its 200 day moving average is $93.48. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.02.

Pharma Mar Company Profile

PharmaMar is a Spain-based biopharmaceutical company that specializes in the discovery and development of novel oncology therapies derived from marine organisms. Founded in 1986 as part of Grupo Zeltia, the company has pioneered the use of compounds extracted from deep-sea organisms to create synthetic analogs aimed at treating various forms of cancer. Its core expertise lies in marine biotechnology, medicinal chemistry and oncology-focused clinical development.

The company’s flagship product is Yondelis (trabectedin), an antitumor agent approved in the European Union for the treatment of soft tissue sarcoma and relapsed platinum-sensitive ovarian cancer.