Merrimack Pharmaceuticals, Inc. (MACK) Receives Consensus Rating of “Hold” from Analysts
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) has been given an average rating of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $64.53.
A number of equities research analysts recently commented on MACK shares. ValuEngine raised Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Zacks Investment Research lowered Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Robert W. Baird reissued a “hold” rating and issued a $15.00 price target on shares of Merrimack Pharmaceuticals in a research report on Friday, October 13th.
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In other Merrimack Pharmaceuticals news, Director Ulrik B. Nielsen sold 14,756 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $14.46, for a total value of $213,371.76. Following the completion of the transaction, the director now owns 37,437 shares in the company, valued at approximately $541,339.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ulrik B. Nielsen sold 7,896 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.23, for a total value of $112,360.08. Following the completion of the transaction, the director now owns 22,781 shares of the company’s stock, valued at approximately $324,173.63. The disclosure for this sale can be found here. Insiders sold a total of 44,308 shares of company stock valued at $637,558 in the last 90 days. Corporate insiders own 8.53% of the company’s stock.
A number of large investors have recently made changes to their positions in MACK. Stonebridge Capital Management Inc. grew its stake in Merrimack Pharmaceuticals by 121.0% in the 2nd quarter. Stonebridge Capital Management Inc. now owns 80,700 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 44,181 shares during the period. Virtu KCG Holdings LLC grew its stake in Merrimack Pharmaceuticals by 46.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 28,235 shares during the period. Creative Planning grew its stake in Merrimack Pharmaceuticals by 444.9% in the 2nd quarter. Creative Planning now owns 89,408 shares of the biopharmaceutical company’s stock valued at $111,000 after purchasing an additional 73,000 shares during the period. Engineers Gate Manager LP bought a new position in Merrimack Pharmaceuticals in the 2nd quarter valued at $113,000. Finally, UBS Asset Management Americas Inc. grew its stake in Merrimack Pharmaceuticals by 48.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock valued at $133,000 after purchasing an additional 34,983 shares during the period.
Merrimack Pharmaceuticals (NASDAQ MACK) traded down 4.40% during trading on Thursday, hitting $11.51. 121,426 shares of the company traded hands. Merrimack Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $67.90. The stock has a 50-day moving average price of $13.85 and a 200-day moving average price of $18.43. The firm has a market capitalization of $152.84 million, a P/E ratio of 0.36 and a beta of 1.98.
Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.81). During the same quarter last year, the firm earned ($4.00) earnings per share. Equities analysts expect that Merrimack Pharmaceuticals will post $33.49 EPS for the current fiscal year.
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.
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