Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)‘s stock had its “neutral” rating restated by Robert W. Baird in a report released on Wednesday. They currently have a $5.00 target price on the biopharmaceutical company’s stock. Robert W. Baird’s target price suggests a potential upside of 52.91% from the company’s current price.

Several other equities research analysts have also recently issued reports on MACK. Vetr cut shares of Merrimack Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $5.92 target price on the stock. in a research report on Monday, November 7th. J P Morgan Chase & Co reissued a “hold” rating and issued a $7.00 target price on shares of Merrimack Pharmaceuticals in a research report on Thursday, November 10th. BTIG Research reissued a “neutral” rating on shares of Merrimack Pharmaceuticals in a research report on Wednesday, October 5th. Finally, Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Merrimack Pharmaceuticals has a consensus rating of “Buy” and an average price target of $9.06.

Analyst Recommendations for Merrimack Pharmaceuticals (NASDAQ:MACK)

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 0.0153% during midday trading on Wednesday, hitting $3.2695. 1,197,842 shares of the company’s stock were exchanged. Merrimack Pharmaceuticals has a 1-year low of $3.23 and a 1-year high of $9.02. The stock’s 50 day moving average is $5.10 and its 200-day moving average is $5.33. The stock’s market cap is $423.78 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The company earned $28.07 million during the quarter, compared to analyst estimates of $41 million. During the same period in the prior year, the business posted ($0.38) earnings per share. Merrimack Pharmaceuticals’s revenue was up 71.3% on a year-over-year basis. Analysts predict that Merrimack Pharmaceuticals will post ($1.16) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in 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. Chicago Equity Partners LLC boosted its position in Merrimack Pharmaceuticals by 2.5% in the second quarter. Chicago Equity Partners LLC now owns 48,180 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 1,160 shares during the last quarter. Guggenheim Capital LLC boosted its position in Merrimack Pharmaceuticals by 0.3% in the second quarter. Guggenheim Capital LLC now owns 421,079 shares of the biopharmaceutical company’s stock worth $2,270,000 after buying an additional 1,371 shares during the last quarter. LPL Financial LLC boosted its position in Merrimack Pharmaceuticals by 6.1% in the third quarter. LPL Financial LLC now owns 27,703 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 1,600 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in 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. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Merrimack Pharmaceuticals Company Profile

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

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