Merrimack Pharmaceuticals, Inc. (MACK) Set to Announce Earnings on Tuesday
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) will release its earnings data before the market opens on Tuesday, November 7th. Analysts expect Merrimack Pharmaceuticals to post earnings of ($0.18) per share for the quarter.
Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.37) by ($0.81). During the same period in the prior year, the firm posted ($4.00) EPS. On average, analysts expect Merrimack Pharmaceuticals to post $-7.34 EPS for the current fiscal year and $-5.83 EPS for the next fiscal year.
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) opened at 11.82 on Tuesday. The company has a 50-day moving average of $13.74 and a 200 day moving average of $17.93. The stock has a market capitalization of $156.96 million, a price-to-earnings ratio of 0.37 and a beta of 1.98. Merrimack Pharmaceuticals, Inc. has a 12 month low of $11.20 and a 12 month high of $67.90.
Several research firms recently weighed in on MACK. Robert W. Baird reaffirmed a “hold” rating and set a $15.00 target price on shares of Merrimack Pharmaceuticals in a research note on Friday, October 13th. Zacks Investment Research cut shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, ValuEngine raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the stock. Merrimack Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $64.53.
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In other Merrimack Pharmaceuticals news, Director Ulrik B. Nielsen sold 14,756 shares of Merrimack Pharmaceuticals stock in a transaction on Monday, September 11th. The shares were 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 directly owns 37,437 shares of the company’s stock, valued at approximately $541,339.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ulrik B. Nielsen sold 7,896 shares of Merrimack Pharmaceuticals stock in a transaction on Friday, September 15th. The stock was sold at an average price of $14.23, for a total transaction of $112,360.08. Following the completion of the transaction, the director now directly owns 22,781 shares of the company’s stock, valued at $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 over the last three months. Corporate insiders own 8.53% of the company’s stock.
A hedge fund recently raised its stake in Merrimack Pharmaceuticals stock. The Manufacturers Life Insurance Company grew its holdings in Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) by 14.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113,235 shares of the biopharmaceutical company’s stock after buying an additional 14,591 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Merrimack Pharmaceuticals worth $141,000 as of its most recent filing with the Securities & Exchange Commission.
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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