-$0.28 Earnings Per Share Expected for Merrimack Pharmaceuticals Inc (MACK) This Quarter

Wall Street analysts expect Merrimack Pharmaceuticals Inc (NASDAQ:MACK) to announce ($0.28) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Merrimack Pharmaceuticals’ earnings, with the highest EPS estimate coming in at $1.69 and the lowest estimate coming in at ($1.45). Merrimack Pharmaceuticals reported earnings per share of ($2.50) during the same quarter last year, which would suggest a positive year-over-year growth rate of 88.8%. The company is expected to announce its next quarterly earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Merrimack Pharmaceuticals will report full-year earnings of $36.83 per share for the current fiscal year, with EPS estimates ranging from $35.27 to $38.38. For the next financial year, analysts forecast that the business will post earnings of ($5.44) per share, with EPS estimates ranging from ($7.62) to ($4.26). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Merrimack Pharmaceuticals.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.88) by $1.48.

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

Merrimack Pharmaceuticals (MACK) traded up $0.13 during trading on Thursday, reaching $10.61. The company’s stock had a trading volume of 91,865 shares, compared to its average volume of 170,521. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.45. Merrimack Pharmaceuticals has a twelve month low of $10.04 and a twelve month high of $39.90. The company has a market capitalization of $141.46, a P/E ratio of -1.46 and a beta of 1.72.

A number of institutional investors have recently added to or reduced their stakes in MACK. Virtu KCG Holdings LLC lifted its holdings in shares of Merrimack Pharmaceuticals by 46.5% during the second 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 in the last quarter. Engineers Gate Manager LP bought a new position in shares of Merrimack Pharmaceuticals during the second quarter valued at $113,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Merrimack Pharmaceuticals by 48.4% during the second 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 in the last quarter. Macquarie Group Ltd. bought a new position in shares of Merrimack Pharmaceuticals during the third quarter valued at $137,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Merrimack Pharmaceuticals by 14.8% during the second quarter. The Manufacturers Life Insurance Company now owns 113,235 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 14,591 shares in the last quarter. 50.14% of the stock is currently owned by institutional investors and hedge funds.

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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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