Pharma Mar (OTCMKTS:PHMMF) Shares Gap Down – Here’s What Happened

Shares of Pharma Mar (OTCMKTS:PHMMF) gapped down prior to trading on Friday . The stock had previously closed at $94.3374, but opened at $90.90. Pharma Mar shares last traded at $90.90, with a volume of 102 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PHMMF. BTIG Research started coverage on Pharma Mar in a research report on Thursday, April 23rd. They issued a “buy” rating for the company. Zacks Research upgraded Pharma Mar to a “hold” rating in a report on Monday, June 15th. Finally, Chardan Capital raised shares of Pharma Mar to a “strong-buy” rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Pharma Mar Price Performance

The company has a current ratio of 3.02, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average price of $95.96 and a 200 day moving average price of $93.82.

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.