Pharma Mar (OTCMKTS:PHMMF) Shares Up 18.7% – Here’s What Happened

Pharma Mar (OTCMKTS:PHMMF)’s stock price rose 18.7% during trading on Wednesday . The company traded as high as $94.3374 and last traded at $94.3374. Approximately 183 shares changed hands during trading, an increase of 732% from the average session volume of 22 shares. The stock had previously closed at $79.49.

Analyst Ratings Changes

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

Pharma Mar Trading Up 18.7%

The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.44 and a current ratio of 3.02. The stock has a 50 day moving average price of $96.52 and a 200 day moving average price of $93.78.

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.