Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 234,480 shares of the biopharmaceutical company’s stock after buying an additional 2,050 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.18% of Merrimack Pharmaceuticals worth $1,489,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Principal Financial Group Inc. raised its position in shares of Merrimack Pharmaceuticals by 5.0% in the second quarter. Principal Financial Group Inc. now owns 21,259 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 1,010 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Merrimack Pharmaceuticals by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 24,488 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,712 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Merrimack Pharmaceuticals by 147.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,128 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 14,990 shares during the last quarter. Creative Planning raised its position in shares of Merrimack Pharmaceuticals by 196.9% in the third quarter. Creative Planning now owns 25,408 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 16,850 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Merrimack Pharmaceuticals by 254.1% in the second quarter. BlackRock Inc. now owns 27,874 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 20,002 shares during the last quarter. 73.57% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Merrimack Pharmaceuticals (NASDAQ:MACK)

Shares of Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) traded down 5.97% during mid-day trading on Wednesday, hitting $5.51. Merrimack Pharmaceuticals Inc. has a 12-month low of $4.39 and a 12-month high of $9.63. The company’s 50 day moving average price is $5.61 and its 200-day moving average price is $5.65. The stock’s market cap is $714.18 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The firm earned $28.07 million during the quarter, compared to the consensus estimate of $41 million. The business’s revenue for the quarter was up 71.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.38) earnings per share. Analysts forecast that Merrimack Pharmaceuticals Inc. will post ($1.05) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Boosts Position in Merrimack Pharmaceuticals Inc. (MACK)” was published by Daily Political and is the propert of of Daily Political. If you are accessing this news story on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this news story can be viewed at http://www.dailypolitical.com/2016/11/30/her-majesty-the-queen-in-right-of-the-province-of-alberta-as-represented-by-alberta-investment-management-corp-boosts-position-in-merrimack-pharmaceuticals-inc-mack.html.

Several research firms have issued reports on MACK. Zacks Investment Research upgraded Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a research note on Wednesday, October 19th. BTIG Research began coverage on Merrimack Pharmaceuticals in a research note on Friday, August 19th. They set a “neutral” rating for the company. Vetr upgraded Merrimack Pharmaceuticals from a “strong sell” rating to a “strong-buy” rating and set a $10.86 price objective for the company in a research note on Tuesday. Brean Capital set a $13.00 price objective on Merrimack Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, JPMorgan Chase & Co. lowered Merrimack Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $5.75 price objective for the company. in a research note on Friday, October 7th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Merrimack Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $10.19.

About Merrimack Pharmaceuticals

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.

5 Day Chart for NASDAQ:MACK

Want to see what other hedge funds are holding MACK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Merrimack Pharmaceuticals Inc. (NASDAQ:MACK).

Receive News & Ratings for Merrimack Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.