Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Director Ulrik B. Nielsen sold 21,556 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $14.40, for a total transaction of $310,406.40. Following the completion of the sale, the director now owns 37,437 shares in the company, valued at $539,092.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) traded down 0.79% during mid-day trading on Thursday, reaching $13.88. 73,805 shares of the company traded hands. The company’s 50 day moving average is $12.93 and its 200 day moving average is $22.21. Merrimack Pharmaceuticals, Inc. has a 52-week low of $11.30 and a 52-week high of $67.90. The stock has a market capitalization of $184.31 million, a price-to-earnings ratio of 0.43 and a beta of 2.02.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.81). During the same quarter last year, the business earned ($4.00) earnings per share. On average, equities analysts forecast that Merrimack Pharmaceuticals, Inc. will post $33.43 earnings per share for the current year.

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Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in Merrimack Pharmaceuticals by 4.4% in the 1st quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock worth $3,079,000 after buying an additional 42,194 shares during the last quarter. Yakira Capital Management Inc. acquired a new stake in Merrimack Pharmaceuticals in the 1st quarter worth about $765,000. Airain ltd acquired a new stake in Merrimack Pharmaceuticals in the 1st quarter worth about $281,000. Schwab Charles Investment Management Inc. boosted its stake in Merrimack Pharmaceuticals by 5.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock worth $1,352,000 after buying an additional 22,401 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Merrimack Pharmaceuticals by 1.9% in the 1st quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock worth $2,243,000 after buying an additional 13,664 shares during the last quarter. 46.66% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, August 14th. ValuEngine lowered shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Cowen and Company restated a “market perform” rating on shares of Merrimack Pharmaceuticals in a report on Friday, May 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company’s stock. Merrimack Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $70.90.

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. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

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