Insider Buying: Gary L. Crocker Buys 9,400 Shares of Merrimack Pharmaceuticals Stock (MACK)
Merrimack Pharmaceuticals (NASDAQ:MACK) Director Gary L. Crocker acquired 9,400 shares of the company’s stock on the open market in a transaction that occurred on Monday, May 19th. The stock was purchased at an average cost of $6.68 per share, with a total value of $62,792.00. Following the completion of the transaction, the director now directly owns 2,804,571 shares in the company, valued at approximately $18,734,534. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on MACK. Analysts at Mizuho raised their price target on shares of Merrimack Pharmaceuticals from $12.00 to $13.00 in a research note on Friday, May 2nd. Separately, analysts at Cowen and Company upgraded shares of Merrimack Pharmaceuticals from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 1st. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Merrimack Pharmaceuticals from $9.00 to $15.00 in a research note on Thursday, May 1st. One research analyst has rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $12.00.
Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 1.25% during mid-day trading on Tuesday, hitting $6.71. The stock had a trading volume of 621,113 shares. Merrimack Pharmaceuticals has a 52-week low of $2.05 and a 52-week high of $7.65. The stock has a 50-day moving average of $5.52 and a 200-day moving average of $4.96. The company’s market cap is $693.8 million.
Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Thursday, May 1st. The company reported ($0.27) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.30) by $0.03. The company had revenue of $13.03 million for the quarter, compared to the consensus estimate of $11.93 million. On average, analysts predict that Merrimack Pharmaceuticals will post $-1.16 earnings per share for the current fiscal year.
Merrimack Pharmaceuticals, Inc is a biopharmaceutical company discovering, developing and preparing to commercialize medicines paired with companion diagnostics for the treatment of serious diseases, with an initial focus on cancer.
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