Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) was down 3% during trading on Thursday . The company traded as low as $5.50 and last traded at $5.53, with a volume of 925,074 shares trading hands. The stock had previously closed at $5.70.

A number of equities research analysts have recently commented on MACK shares. Cowen and Company restated a “buy” rating on shares of Merrimack Pharmaceuticals in a research report on Sunday, April 17th. Mizuho restated a “buy” rating and set a $13.00 target price on shares of Merrimack Pharmaceuticals in a research report on Friday, May 20th. Robert W. Baird started coverage on Merrimack Pharmaceuticals in a research report on Thursday, May 26th. They set a “neutral” rating and a $8.00 target price on the stock. Brean Capital restated a “buy” rating on shares of Merrimack Pharmaceuticals in a research report on Tuesday, May 3rd. Finally, Zacks Investment Research upgraded Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.25 target price on the stock in a research report on Monday, May 9th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Merrimack Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $12.54.

The stock has a 50 day moving average of $6.27 and a 200-day moving average of $6.82. The stock’s market cap is $717.81 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Monday, May 2nd. The biopharmaceutical company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The business earned $21.30 million during the quarter, compared to analysts’ expectations of $24.16 million. The firm’s revenue for the quarter was up 43.4% compared to the same quarter last year. On average, equities analysts anticipate that Merrimack Pharmaceuticals Inc. will post ($0.75) earnings per share for the current year.

Other large investors have made changes to their positions in the company. Stoneridge Investment Partners LLC boosted its stake in shares of Merrimack Pharmaceuticals by 71.9% in the fourth quarter. Stoneridge Investment Partners LLC now owns 208,282 shares of the biopharmaceutical company’s stock worth $1,645,000 after buying an additional 87,117 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Merrimack Pharmaceuticals by 30.1% in the fourth quarter. New York State Common Retirement Fund now owns 219,253 shares of the biopharmaceutical company’s stock worth $1,732,000 after buying an additional 50,735 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Merrimack Pharmaceuticals by 6.7% in the fourth quarter. California State Teachers Retirement System now owns 214,167 shares of the biopharmaceutical company’s stock worth $1,692,000 after buying an additional 13,522 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Merrimack Pharmaceuticals by 5.3% in the fourth quarter. Morgan Stanley now owns 1,017,971 shares of the biopharmaceutical company’s stock worth $8,042,000 after buying an additional 50,803 shares during the last quarter.

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. Its therapeutic oncology candidates in clinical development include MM-398, MM-302, MM-121, MM-141 and MM-151.

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