Merrimack Pharmaceuticals Inc. (MACK) Hits New 12-Month Low at $4.77
Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) reached a new 52-week low during trading on Thursday . The stock traded as low as $4.77 and last traded at $4.79, with a volume of 1,511,026 shares traded. The stock had previously closed at $4.87.
MACK has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Merrimack Pharmaceuticals in a research report on Friday, August 19th. They set a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research report on Monday, May 9th. Brean Capital set a $13.00 price target on shares of Merrimack Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 5th. Robert W. Baird assumed coverage on shares of Merrimack Pharmaceuticals in a research report on Thursday, May 26th. They issued a “neutral” rating and a $8.00 price target on the stock. Finally, Cowen and Company downgraded shares of Merrimack Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.54.
The firm’s 50 day moving average is $5.37 and its 200-day moving average is $6.45. The company’s market capitalization is $616.47 million.
Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.07. The company had revenue of $33.70 million for the quarter, compared to the consensus estimate of $33.35 million. During the same quarter last year, the business posted ($0.33) EPS. The company’s revenue was up 58.3% compared to the same quarter last year. Equities research analysts expect that Merrimack Pharmaceuticals Inc. will post ($0.98) earnings per share for the current fiscal year.
In related news, insider Birgit M. Schoeberl sold 50,000 shares of the company’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 transaction, the insider now directly owns 115,657 shares in the company, valued at $636,113.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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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