Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) rose 3.6% on Monday . The company traded as high as $5.16 and last traded at $5.15, with a volume of 793,762 shares. The stock had previously closed at $4.97.

MACK has been the subject of a number of recent research reports. Brean Capital set a $13.00 price target on shares of Merrimack Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Cowen and Company downgraded shares of Merrimack Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, August 5th. BTIG Research initiated coverage on shares of Merrimack Pharmaceuticals in a research note on Friday. They issued a “neutral” rating for the company. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Merrimack Pharmaceuticals in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Merrimack Pharmaceuticals presently has an average rating of “Hold” and an average target price of $10.54.

The company’s market capitalization is $661.06 million. The stock has a 50 day moving average of $5.43 and a 200 day moving average of $6.49.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.07. The firm had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.35 million. The company’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) EPS. On average, analysts expect that Merrimack Pharmaceuticals Inc. will post ($0.98) EPS for the current fiscal year.

In other news, insider Birgit M. Schoeberl sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $5.50, for a total value of $275,000.00. Following the sale, the insider now directly owns 115,657 shares in the company, valued at approximately $636,113.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

An institutional investor recently raised its position in Merrimack Pharmaceuticals stock. Westfield Capital Management Co. LP raised its stake in Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,255,815 shares of the biopharmaceutical company’s stock after buying an additional 744,254 shares during the period. Westfield Capital Management Co. LP owned 6.28% of Merrimack Pharmaceuticals worth $57,321,000 at the end of the most recent 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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