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

Wall Street brokerages predict that Merrimack Pharmaceuticals Inc (NASDAQ:MACK) will announce sales of $33.00 million for the current quarter, Zacks Investment Research reports. Two analysts have issued 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 firm is expected to issue 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 financial year. For the next financial year, analysts anticipate that the firm will report sales of $0.00 per share. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Merrimack Pharmaceuticals.

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

Several brokerages have recently commented on MACK. Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Merrimack Pharmaceuticals in a research report on Friday, October 13th. Zacks Investment Research downgraded Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th.

Merrimack Pharmaceuticals (NASDAQ MACK) opened at $10.68 on Tuesday. Merrimack Pharmaceuticals has a 52-week low of $10.04 and a 52-week high of $39.90. The company has a market capitalization of $142.40, a PE ratio of -1.47 and a beta of 1.73. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.35 and a quick ratio of 3.35.

Several institutional investors have recently made changes to their positions in the company. Stonebridge Capital Management Inc. purchased a new position in shares of Merrimack Pharmaceuticals in the fourth quarter valued at about $200,000. Rubric Capital Management LP purchased a new position in shares of Merrimack Pharmaceuticals in the third quarter valued at about $4,913,000. Newtyn Management LLC purchased a new position in shares of Merrimack Pharmaceuticals in the third quarter valued at about $5,671,000. Dimensional Fund Advisors LP purchased a new position in shares of Merrimack Pharmaceuticals in the third quarter valued at about $376,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Merrimack Pharmaceuticals in the third quarter worth about $137,000. Institutional investors and hedge funds own 50.23% of the company’s stock.

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Merrimack Pharmaceuticals Company Profile

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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