Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) has earned an average recommendation of “Hold” from the seven analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $76.20.

Several analysts have recently issued reports on the stock. ValuEngine lowered shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday. Zacks Investment Research lowered shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 14th.

In other news, Director Ulrik B. Nielsen sold 7,896 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $14.23, for a total value of $112,360.08. Following the sale, the director now owns 22,781 shares of the company’s stock, valued at $324,173.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Ulrik B. Nielsen sold 14,756 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $14.46, for a total transaction of $213,371.76. Following the completion of the sale, the director now directly owns 37,437 shares in the company, valued at approximately $541,339.02. The disclosure for this sale can be found here. In the last three months, insiders sold 44,308 shares of company stock worth $637,558. Insiders own 8.53% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Merrimack Pharmaceuticals by 3.2% in the second quarter. Rhumbline Advisers now owns 145,089 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 4,510 shares during the period. American International Group Inc. increased its holdings in Merrimack Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 75,158 shares of the biopharmaceutical company’s stock worth $231,000 after acquiring an additional 4,975 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in Merrimack Pharmaceuticals by 6.5% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 93,074 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 5,688 shares during the period. Bank of New York Mellon Corp increased its holdings in Merrimack Pharmaceuticals by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock worth $2,243,000 after acquiring an additional 13,664 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Merrimack Pharmaceuticals by 14.8% during the 2nd 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 during the period.

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Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded up 0.27% on Friday, hitting $15.09. 278,155 shares of the company’s stock were exchanged. The firm has a market cap of $200.38 million, a P/E ratio of 0.47 and a beta of 1.98. The stock’s 50 day moving average is $13.68 and its 200 day moving average is $20.35. Merrimack Pharmaceuticals has a 12 month low of $11.30 and a 12 month high of $67.90.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing the consensus estimate of ($1.37) by ($0.81). During the same period last year, the company earned ($4.00) EPS. On average, equities analysts predict that Merrimack Pharmaceuticals will post $33.49 earnings per share for the current year.

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. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

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