Zacks Investment Research Upgrades Pharma Mar (NASDAQ: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 to investors on Thursday. The firm presently has a $5.00 target price on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 16.01% from the company’s previous close.

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 Thursday. The stock’s market cap is $1.07 billion. The company’s 50 day moving average is $4.47 and its 200-day moving average is $3.84. Pharma Mar has a 1-year low of $2.22 and a 1-year high of $4.80.

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