Merrimack Pharmaceuticals Price Target Cut to $8.50 (MACK)
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.
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