Pharma Mar (OTCMKTS:PHMMF) Stock Crosses Below 50 Day Moving Average – Time to Sell?

Pharma Mar (OTCMKTS:PHMMF) passed 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.

Analyst Ratings Changes

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

Pharma Mar Price 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 company’s fifty day moving average price is $88.75 and its 200 day moving average price is $93.75.

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.