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Merrimack Pharmaceuticals (NASDAQ:MACK) announced its earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.15, American Banking News reports.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded up 6.74% on Monday, hitting $6.97. The stock had a trading volume of 554,066 shares. 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 $6.52 and a 200-day moving average of $6.03. The company’s market cap is $720.7 million.

MACK has been the subject of a number of recent research reports. Analysts at Brean Capital initiated coverage on shares of Merrimack Pharmaceuticals in a research note on Tuesday, July 8th. They set a “buy” rating and a $16.00 price target on the stock. On the ratings front, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Merrimack Pharmaceuticals in a research note on Friday, June 20th. They now have a $14.00 price target on the stock, down previously from $15.00. Finally, analysts at Oppenheimer cut their price target on shares of Merrimack Pharmaceuticals from $10.00 to $8.50 in a research note on Friday, June 20th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a buy rating, Merrimack Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $12.88.

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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