Merrimack Pharmaceuticals Inc. (MACK) Shares Down 1.1%
Merrimack Pharmaceuticals Inc. (NASDAQ:MACK)’s share price was down 1.1% on Friday . The stock traded as low as $4.51 and last traded at $4.54, with a volume of 660,568 shares changing hands. The stock had previously closed at $4.59.
Several equities analysts have weighed in on MACK shares. Mizuho reaffirmed a “buy” rating and set a $13.00 price target on shares of Merrimack Pharmaceuticals in a report on Friday, May 20th. Robert W. Baird started coverage on shares of Merrimack Pharmaceuticals in a report on Thursday, May 26th. They set a “neutral” rating and a $8.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Merrimack Pharmaceuticals from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. BTIG Research started coverage on shares of Merrimack Pharmaceuticals in a report on Friday, August 19th. They set a “neutral” rating on the stock. Finally, Brean Capital reaffirmed a “buy” rating and set a $16.00 price target on shares of Merrimack Pharmaceuticals in a report on Friday, May 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $10.54.
The company’s market cap is $585.46 million. The stock’s 50 day moving average is $5.23 and its 200-day moving average is $6.41.
Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.07. The firm had revenue of $33.70 million for the quarter, compared to analysts’ expectations of $33.35 million. During the same quarter in the prior year, the business posted ($0.33) EPS. The firm’s quarterly revenue was up 58.3% on a year-over-year basis. On average, equities analysts expect that Merrimack Pharmaceuticals Inc. will post ($1.02) EPS for the current year.
In related news, insider Birgit M. Schoeberl sold 50,000 shares of the 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 transaction, the insider now owns 115,657 shares in the company, valued at approximately $636,113.50. The sale was disclosed in a filing with the SEC, which is available through this link.
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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