Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Director Ulrik B. Nielsen sold 7,896 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $14.23, for a total value of $112,360.08. Following the transaction, the director now owns 22,781 shares in the company, valued at $324,173.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) remained flat at $14.15 during trading on Friday. The company had a trading volume of 336,623 shares. The stock’s 50 day moving average price is $12.97 and its 200 day moving average price is $21.97. The company has a market capitalization of $187.90 million, a price-to-earnings ratio of 0.44 and a beta of 2.02. Merrimack Pharmaceuticals, Inc. 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) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($0.81). During the same quarter in the previous year, the firm earned ($4.00) earnings per share. Analysts forecast that Merrimack Pharmaceuticals, Inc. will post $33.43 EPS for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of MACK. Geode Capital Management LLC boosted its position in shares of Merrimack Pharmaceuticals by 4.4% during the first quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock valued at $3,079,000 after purchasing an additional 42,194 shares in the last quarter. Yakira Capital Management Inc. bought a new stake in shares of Merrimack Pharmaceuticals during the first quarter valued at approximately $765,000. Airain ltd bought a new stake in shares of Merrimack Pharmaceuticals during the first quarter valued at approximately $281,000. Schwab Charles Investment Management Inc. boosted its position in shares of Merrimack Pharmaceuticals by 5.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock valued at $1,352,000 after purchasing an additional 22,401 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Merrimack Pharmaceuticals by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock valued at $2,243,000 after purchasing an additional 13,664 shares in the last quarter. 46.66% of the stock is currently owned by hedge funds and other institutional investors.

MACK has been the topic of a number of research analyst reports. Cowen and Company restated a “market perform” rating on shares of Merrimack Pharmaceuticals in a report on Friday, May 19th. Zacks Investment Research upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 17th. Finally, ValuEngine upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target 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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