Wall Street brokerages predict that Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) will report sales of $33.00 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals reported sales of $61.24 million in the same quarter last year, which indicates a negative year over year growth rate of 46.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, March 7th.

On average, analysts expect that Merrimack Pharmaceuticals will report full-year sales of $33.00 million for the current fiscal year. For the next financial year, analysts expect that the business will report sales of $0.00 per share. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Merrimack Pharmaceuticals.

Several analysts recently commented on MACK shares. Zacks Investment Research lowered shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine lowered shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Monday, October 2nd. Finally, Robert W. Baird reissued a “hold” rating and set a $15.00 target price on shares of Merrimack Pharmaceuticals in a research note on Friday, October 13th.

Merrimack Pharmaceuticals (MACK) traded down $0.13 during mid-day trading on Thursday, reaching $11.56. 355,681 shares of the company traded hands, compared to its average volume of 261,125. Merrimack Pharmaceuticals has a fifty-two week low of $11.14 and a fifty-two week high of $61.80. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.45.

In related news, Director Ulrik B. Nielsen sold 14,756 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 37,437 shares in the company, valued at approximately $541,339.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ulrik B. Nielsen sold 21,556 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $14.40, for a total transaction of $310,406.40. Following the completion of the sale, the director now owns 37,437 shares of the company’s stock, valued at approximately $539,092.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,308 shares of company stock valued at $637,558. 8.53% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Stonebridge Capital Management Inc. lifted its position in shares of 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 acquiring an additional 44,181 shares in the last quarter. Virtu KCG Holdings LLC lifted its position in shares of 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 acquiring an additional 28,235 shares in the last quarter. Creative Planning lifted its position in shares of 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 acquiring an additional 73,000 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Merrimack Pharmaceuticals in the 2nd quarter valued at approximately $113,000. Finally, UBS Asset Management Americas Inc. increased 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 buying an additional 34,983 shares during the period. Institutional investors and hedge funds own 52.57% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “$33.00 Million in Sales Expected for Merrimack Pharmaceuticals, Inc. (MACK) This Quarter” was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of United States and international trademark and copyright law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/11/30/33-00-million-in-sales-expected-for-merrimack-pharmaceuticals-inc-mack-this-quarter.html.

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.

Get a free copy of the Zacks research report on Merrimack Pharmaceuticals (MACK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Merrimack Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.