Merrimack Pharmaceuticals Director Gary L. Crocker Purchases 36,000 Shares (MACK)
Merrimack Pharmaceuticals (NASDAQ:MACK) Director Gary L. Crocker purchased 36,000 shares of Merrimack Pharmaceuticals stock on the open market in a transaction that occurred on Monday, June 23rd. The shares were purchased at an average price of $6.84 per share, with a total value of $246,240.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded up 5.76% on Tuesday, hitting $7.16. 1,425,375 shares of the company’s stock traded hands. Merrimack Pharmaceuticals has a 52-week low of $2.05 and a 52-week high of $8.25. The stock’s 50-day moving average is $7.30 and its 200-day moving average is $5.76. The company’s market cap is $740.4 million.
Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Thursday, May 1st. The company reported ($0.27) earnings per share for the quarter, beating the analysts’ 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.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Merrimack Pharmaceuticals in a research note on Friday. They now have a $14.00 price target on the stock, down previously from $15.00. Separately, 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. Finally, 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. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $11.50.
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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