Merrimack Pharmaceuticals Inc. (MACK) Trading Down 1.1%
Merrimack Pharmaceuticals Inc. (NASDAQ:MACK)’s share price traded down 1.1% on Friday . The company 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.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. 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. Brean Capital set a $13.00 target price on shares of Merrimack Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 5th. BTIG Research assumed coverage on shares of Merrimack Pharmaceuticals in a research note on Friday, August 19th. They set a “neutral” rating for the company. Finally, JPMorgan Chase & Co. decreased their target price on shares of Merrimack Pharmaceuticals from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. 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. The stock has a consensus rating of “Hold” and a consensus price target of $10.54.
The company’s market cap is $585.46 million. The stock has a 50 day moving average of $5.23 and a 200 day moving average of $6.41.
Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by $0.07. The business had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.35 million. Merrimack Pharmaceuticals’s revenue for the quarter was up 58.3% compared to the same quarter last year. During the same period last year, the business posted ($0.33) earnings per share. On average, equities analysts expect that Merrimack Pharmaceuticals Inc. will post ($1.02) EPS for the current fiscal year.
In other Merrimack Pharmaceuticals news, insider Birgit M. Schoeberl sold 50,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $5.50, for a total value of $275,000.00. Following the completion of the sale, the insider now directly owns 115,657 shares of the company’s stock, valued at approximately $636,113.50. The transaction 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.