Merrimack Pharmaceuticals Inc. (MACK) Rating Lowered to Strong Sell at Vetr Inc.
Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) was downgraded by stock analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Monday. They presently have a $5.60 target price on the biopharmaceutical company’s stock. Vetr‘s target price suggests a potential downside of 12.64% from the company’s previous close.
Other equities analysts have also issued reports about the company. Robert W. Baird reissued a “neutral” rating and issued a $7.00 price objective (down from $8.00) on shares of Merrimack Pharmaceuticals in a report on Wednesday, August 10th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $7.00 price objective on shares of Merrimack Pharmaceuticals in a report on Thursday, November 10th. BTIG Research reissued a “neutral” rating on shares of Merrimack Pharmaceuticals in a report on Thursday, November 10th. Zacks Investment Research lowered Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, Cowen and Company lowered Merrimack Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.44.
Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 6.41 on Monday. Merrimack Pharmaceuticals has a 12-month low of $4.39 and a 12-month high of $9.63. The stock has a 50 day moving average price of $5.59 and a 200-day moving average price of $5.67. The firm’s market capitalization is $830.83 million.
Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The business earned $28.07 million during the quarter, compared to the consensus estimate of $41 million. During the same period last year, the company earned ($0.38) earnings per share. The business’s quarterly revenue was up 71.3% compared to the same quarter last year. On average, equities research analysts forecast that Merrimack Pharmaceuticals will post ($1.05) EPS for the current year.
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Several large investors have recently added to or reduced their stakes in the company. 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 in the last quarter. BlackRock Investment Management LLC raised its stake in Merrimack Pharmaceuticals by 17.5% in the second quarter. BlackRock Investment Management LLC now owns 471,710 shares of the biopharmaceutical company’s stock valued at $2,543,000 after buying an additional 70,203 shares in the last quarter. Vanguard Group Inc. raised its stake in Merrimack Pharmaceuticals by 10.4% in the second quarter. Vanguard Group Inc. now owns 10,196,415 shares of the biopharmaceutical company’s stock valued at $54,958,000 after buying an additional 958,188 shares in the last quarter. 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 in the last quarter. Finally, Commerce Bank bought a new stake in Merrimack Pharmaceuticals during the second quarter valued at $539,000. 67.44% of the stock is 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.
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