Share on StockTwits

Oppenheimer reduced their price objective on shares of Merrimack Pharmaceuticals (NASDAQ:MACK) from $10.00 to $8.50 in a research note issued on Friday. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 7.73% from the stock’s previous close.

A number of other firms have also 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 analyst has rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.70.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 7.89 on Friday. Merrimack Pharmaceuticals has a one year low of $2.05 and a one year high of $8.25. The stock’s 50-day moving average is $7.29 and its 200-day moving average is $5.71. The company’s market cap is $815.9 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its earnings data on Thursday, May 1st. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the 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.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.