Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK)‘s stock had its “hold” rating reaffirmed by investment analysts at Robert W. Baird in a research note issued to investors on Friday. They presently have a $15.00 price objective on the biopharmaceutical company’s stock. Robert W. Baird’s target price indicates a potential upside of 11.52% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. ValuEngine cut shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $64.53.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 13.45 on Friday. The firm’s 50-day moving average is $13.99 and its 200-day moving average is $19.50. The firm has a market capitalization of $178.60 million, a price-to-earnings ratio of 0.42 and a beta of 1.98. Merrimack Pharmaceuticals has a 12-month low of $11.30 and a 12-month high of $67.90.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its earnings results 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 period last year, the business earned ($4.00) EPS. Equities research analysts forecast that Merrimack Pharmaceuticals will post $33.49 EPS for the current fiscal year.

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In related news, Director Ulrik B. Nielsen sold 7,896 shares of Merrimack Pharmaceuticals stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.23, for a total value of $112,360.08. Following the completion of the sale, the director now owns 22,781 shares in the company, valued at $324,173.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ulrik B. Nielsen sold 14,756 shares of Merrimack Pharmaceuticals stock in a transaction on Monday, September 11th. The stock was sold at an average price of $14.46, for a total transaction of $213,371.76. Following the completion of the sale, the director now owns 37,437 shares of the company’s stock, valued at approximately $541,339.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,308 shares of company stock valued at $637,558. Insiders own 8.53% of the company’s stock.

Several large investors have recently modified their holdings of MACK. Stonebridge Capital Management Inc. increased its stake in shares of Merrimack Pharmaceuticals by 121.0% in the second quarter. Stonebridge Capital Management Inc. now owns 80,700 shares of the biopharmaceutical company’s stock worth $100,000 after buying an additional 44,181 shares during the last quarter. Virtu KCG Holdings LLC increased its stake in shares of Merrimack Pharmaceuticals by 46.5% in the second quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 28,235 shares during the last quarter. Creative Planning increased its stake in shares of Merrimack Pharmaceuticals by 444.9% in the second quarter. Creative Planning now owns 89,408 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 73,000 shares during the last quarter. Engineers Gate Manager LP bought a new stake in shares of Merrimack Pharmaceuticals in the second quarter worth $113,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Merrimack Pharmaceuticals by 48.4% in the second quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 34,983 shares during the last quarter.

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

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