Zacks Investment Research Upgrades Pharma Mar (PHMMF) to “Buy”

Pharma Mar (NASDAQ:PHMMF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $5.25 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 21.81% from the stock’s current price.

According to Zacks, “Pharma Mar SA is a biopharmaceutical company. It engaged in the discovery and development of marine-derived anticancer drugs. The company’s product pipeline consists of PM1183, plitidepsin, and PM184 which are in clinical trial stage. It operates primarily in Germany, Italy, France, Switzerland, United Kingdom, Belgium and the United States. Pharma Mar SA is headquartered in Madrid, Spain. “

Pharma Mar (PHMMF) opened at 4.31 on Wednesday. The company has a 50-day moving average of $4.23 and a 200-day moving average of $3.31. Pharma Mar has a 1-year low of $2.13 and a 1-year high of $4.80. The firm’s market cap is $952.48 million.

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