Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) have been assigned a consensus rating of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.97.

MACK has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Cowen and Company reaffirmed a “market perform” rating on shares of Merrimack Pharmaceuticals in a research note on Friday, May 19th. Finally, ValuEngine cut shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd.

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Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 1.53% on Tuesday, hitting $1.29. 494,920 shares of the company’s stock were exchanged. The company’s market cap is $170.83 million. The company’s 50-day moving average price is $2.15 and its 200-day moving average price is $3.09. Merrimack Pharmaceuticals has a 12-month low of $1.13 and a 12-month high of $6.79.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.22) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.15. During the same period in the prior year, the firm posted ($0.33) EPS. Analysts forecast that Merrimack Pharmaceuticals will post ($0.54) earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Guggenheim Capital LLC acquired a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter worth approximately $1,166,000. Tudor Investment Corp Et Al acquired a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter worth approximately $184,000. Norges Bank acquired a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter worth approximately $3,794,000. Yakira Capital Management Inc. acquired a new stake in shares of Merrimack Pharmaceuticals during the first quarter worth approximately $765,000. Finally, Airain ltd acquired a new stake in shares of Merrimack Pharmaceuticals during the first quarter worth approximately $281,000. 59.10% of the stock is currently owned by hedge funds and other institutional investors.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

Analyst Recommendations for Merrimack Pharmaceuticals (NASDAQ:MACK)

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