Merrimack Pharmaceuticals Stock Rating Reaffirmed by JPMorgan Chase & Co. (MACK)
Merrimack Pharmaceuticals (NASDAQ:MACK)‘s stock had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday. They currently have a $14.00 target price on the stock, down from their previous target price of $15.00. JPMorgan Chase & Co.’s price objective would suggest a potential upside of 77.44% from the company’s current price.
A number of other firms have also recently commented on MACK. Analysts at Oppenheimer cut their price target on shares of Merrimack Pharmaceuticals from $10.00 to $8.50 in a research note on Friday. They now have an “outperform” rating on the stock. Separately, 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $11.50.
Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 13.81% on Friday, hitting $6.80. 4,822,540 shares of the company’s stock traded hands. Merrimack Pharmaceuticals has a 1-year low of $2.05 and a 1-year high of $8.25. The stock has a 50-day moving average of $7.29 and a 200-day moving average of $5.71. The company’s market cap is $703.2 million.
Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly 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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