Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) 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 transaction, the director now owns 37,437 shares in the company, valued at approximately $541,339.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Merrimack Pharmaceuticals, Inc. (MACK) traded up 2.04% during mid-day trading on Wednesday, reaching $13.99. 472,205 shares of the company’s stock traded hands. The firm has a market cap of $185.77 million, a PE ratio of 0.44 and a beta of 2.02. The firm has a 50 day moving average of $12.93 and a 200 day moving average of $22.21. Merrimack Pharmaceuticals, Inc. has a 1-year low of $11.30 and a 1-year high of $67.90.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($0.81). During the same period in the previous year, the company earned ($4.00) EPS. Analysts forecast that Merrimack Pharmaceuticals, Inc. will post $33.60 EPS for the current year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Merrimack Pharmaceuticals by 14.8% during the second quarter. The Manufacturers Life Insurance Company now owns 113,235 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 14,591 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in Merrimack Pharmaceuticals by 34.1% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 155,771 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 39,587 shares in the last quarter. Virtu KCG Holdings LLC raised its position in Merrimack Pharmaceuticals by 46.5% during the second quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 28,235 shares in the last quarter. Northern Trust Corp raised its position in Merrimack Pharmaceuticals by 2.0% during the second quarter. Northern Trust Corp now owns 1,448,367 shares of the biopharmaceutical company’s stock worth $1,796,000 after acquiring an additional 28,243 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position in Merrimack Pharmaceuticals by 48.4% during the second quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 34,983 shares in the last quarter. 46.66% of the stock is currently owned by hedge funds and other institutional investors.

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

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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