Merrimack Pharmaceuticals Inc. (NASDAQ:MACK)‘s stock had its “neutral” rating reissued by stock analysts at BTIG Research in a research report issued on Thursday.

A number of other analysts have also issued reports on the stock. Vetr lowered shares of Merrimack Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $5.92 price objective on the stock. in a research note on Monday, November 7th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a research note on Wednesday, October 19th. JPMorgan Chase & Co. lowered shares of Merrimack Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $5.75 price objective on the stock. in a research note on Friday, October 7th. Robert W. Baird restated a “neutral” rating and issued a $7.00 price target (down previously from $8.00) on shares of Merrimack Pharmaceuticals in a research note on Wednesday, August 10th. Finally, Brean Capital set a $13.00 price target on shares of Merrimack Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Merrimack Pharmaceuticals has an average rating of “Buy” and a consensus price target of $9.49.

Analyst Recommendations for Merrimack Pharmaceuticals (NASDAQ:MACK)

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 6.26 on Thursday. Merrimack Pharmaceuticals has a 52 week low of $4.39 and a 52 week high of $9.63. The company’s 50-day moving average is $5.55 and its 200-day moving average is $5.71. The firm’s market cap is $810.26 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. The firm had revenue of $28.07 million for the quarter, compared to analysts’ expectations of $41 million. The company’s revenue for the quarter was up 71.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.38) EPS. Analysts forecast that Merrimack Pharmaceuticals will post ($1.05) EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake 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 valued at $115,000 after buying an additional 1,010 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Merrimack Pharmaceuticals during the third quarter valued at $127,000. Parametric Portfolio Associates LLC raised its stake 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 valued at $132,000 after buying an additional 1,712 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in Merrimack Pharmaceuticals by 147.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,128 shares of the biopharmaceutical company’s stock valued at $135,000 after buying an additional 14,990 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Merrimack Pharmaceuticals by 254.1% in the second quarter. BlackRock Inc. now owns 27,874 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 20,002 shares during the last quarter. Hedge funds and other institutional investors own 67.36% of the company’s stock.

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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