Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) was upgraded by analysts at Vetr from a “strong sell” rating to a “strong-buy” rating in a report released on Tuesday. The firm currently has a $10.86 price target on the biopharmaceutical company’s stock. Vetr‘s price target would indicate a potential upside of 77.60% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. reiterated a “hold” rating and set a $7.00 target price on shares of Merrimack Pharmaceuticals in a research report on Thursday, November 10th. BTIG Research reiterated a “neutral” rating on shares of Merrimack Pharmaceuticals in a research report on Thursday, November 10th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research report on Wednesday, October 19th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $7.00 target price (down from $8.00) on shares of Merrimack Pharmaceuticals in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.19.

Analyst Recommendations for Merrimack Pharmaceuticals (NASDAQ:MACK)

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 6.08 on Tuesday. The stock’s 50 day moving average is $5.61 and its 200 day moving average is $5.65. The firm’s market capitalization is $788.06 million. Merrimack Pharmaceuticals has a 52-week low of $4.39 and a 52-week high of $9.40.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.04. The company had revenue of $28.07 million for the quarter, compared to the consensus estimate of $41 million. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. The company’s revenue for the quarter 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 made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Merrimack Pharmaceuticals during the third quarter worth $127,000. Principal Financial Group Inc. raised its stake in shares of Merrimack Pharmaceuticals by 5.0% in the second quarter. Principal Financial Group Inc. now owns 21,259 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 1,010 shares during the last quarter. Parametric Portfolio Associates LLC raised its stake in shares of Merrimack Pharmaceuticals by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 24,488 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,712 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Merrimack Pharmaceuticals during the third quarter worth $156,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Merrimack Pharmaceuticals by 147.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,128 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 14,990 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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. 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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