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 Tuesday. The firm currently has a $5.00 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.36% from the company’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 4.45 on Tuesday. The firm has a 50 day moving average of $4.46 and a 200-day moving average of $4.04. Pharma Mar has a one year low of $2.40 and a one year high of $4.80. The firm’s market cap is $1.10 billion.

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