Pharma Mar (OTCMKTS:PHMMF) Stock Passes Below Fifty Day Moving Average – Here’s Why

Shares of Pharma Mar (OTCMKTS:PHMMF) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $88.75 and traded as low as $87.5790. Pharma Mar shares last traded at $87.5790, with a volume of 300 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Chardan Capital raised shares of Pharma Mar to a “strong-buy” rating in a research report on Tuesday, June 9th. BTIG Research started coverage on shares of Pharma Mar in a research report on Thursday, April 23rd. They issued a “buy” rating for the company. Finally, Zacks Research raised shares of Pharma Mar to a “hold” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Pharma Mar presently has an average rating of “Buy”.

Pharma Mar Stock Performance

The company has a quick ratio of 2.44, a current ratio of 3.02 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $87.99 and its two-hundred day moving average price is $93.69.

About Pharma Mar

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.