Pharmamar shares fell 8.69% this Monday, accumulating a fall of more than 28% in the early stages of December. The price of the pharmaceutical company plummets after the presentation of the results of the Atlantis study for the application of Zepzelca as a treatment against lung cancer.
In this way, it reverts the 78% increase that had been registered in the year. The setback after knowing that the effects of its treatment did not meet the pre-established objectives is plummeting the prices of the company, which registers the biggest falls of the year, chaining the poor performance of November.
In the past month alone, its price fell 37%. After the close of this Monday, the prices of the securities stand at 69.35 euros, the lowest level since mid-June.
The cuts after the results
After the presentation of the poor results last week, the consensus of analysts collected by Bloomberg lowered the company’s prices for the next twelve months between 16% and 31%.
This last cut was that of the analysts of JB Capital, of 31.56%, going from 118 euros to about 80.75 euros. According to the Bloomberg panel , the pharmaceutical company has 2 positions in favor of the purchase, 2 to hold and one for sale, with an estimated target price of 103.90 euros for the next 12 months.
Bankinter reduces to 90 euros
Bankinter analysts also lowered their forecasts on Pharmamar last week to give it 90 euros per share. A considerable reduction if you take into account his previous forecast, of 145.50 euros per share. “We do not expect a positive news flow in the short term and we prefer to wait for the Zepzelca outlook to improve,” the bank’s analysts say.
They also point to the delay in the final approval of the Zepzelca in the United States , “and possibly in other geographies,” as one of the compelling reasons for lowering the price of the securities.