Merrimack Pharmaceuticals Inc (MACK) Expected to Post Quarterly Sales of $33.00 Million

Brokerages expect that Merrimack Pharmaceuticals Inc (NASDAQ:MACK) will report sales of $33.00 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals reported sales of $61.24 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 46.1%. The business is scheduled to issue its next quarterly earnings report 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 fiscal year, analysts anticipate that the firm will post sales of $0.00 per share. Zacks’ sales averages are a mean average based on a survey of analysts that cover Merrimack Pharmaceuticals.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.88) by $1.48.

A number of research analysts recently issued reports on MACK shares. Robert W. Baird restated a “hold” rating and set a $15.00 price target on shares of Merrimack Pharmaceuticals in a report on Friday, October 13th. Zacks Investment Research downgraded Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, ValuEngine downgraded Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Monday, October 2nd.

Merrimack Pharmaceuticals (NASDAQ:MACK) opened at $10.82 on Friday. Merrimack Pharmaceuticals has a twelve month low of $10.04 and a twelve month high of $39.90. The stock has a market capitalization of $145.46, a PE ratio of -1.48 and a beta of 1.72. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.45.

A number of large investors have recently made changes to their positions in MACK. Rhumbline Advisers increased its holdings in Merrimack Pharmaceuticals by 3.2% during the 2nd quarter. Rhumbline Advisers now owns 145,089 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 4,510 shares during the period. Alliancebernstein L.P. increased its holdings in Merrimack Pharmaceuticals by 108.1% during the 2nd quarter. Alliancebernstein L.P. now owns 217,900 shares of the biopharmaceutical company’s stock valued at $270,000 after purchasing an additional 113,200 shares during the period. UBS Asset Management Americas Inc. boosted its position in Merrimack Pharmaceuticals by 48.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock valued at $133,000 after acquiring an additional 34,983 shares in the last quarter. Northern Trust Corp boosted its position in Merrimack Pharmaceuticals by 2.0% during the 2nd quarter. Northern Trust Corp now owns 1,448,367 shares of the biopharmaceutical company’s stock valued at $1,796,000 after acquiring an additional 28,243 shares in the last quarter. Finally, Virtu KCG Holdings LLC boosted its position in Merrimack Pharmaceuticals by 46.5% during 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. Institutional investors own 50.14% of the company’s stock.

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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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