Merrimack Pharmaceuticals (MACK) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Merrimack Pharmaceuticals (NASDAQ:MACK) released its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the consensus estimate of ($1.28) by ($0.05), Bloomberg Earnings reports.
Shares of Merrimack Pharmaceuticals stock traded up $0.18 during trading on Wednesday, hitting $5.46. 3,265 shares of the stock were exchanged, compared to its average volume of 101,061. The firm has a market capitalization of $67.92 million, a P/E ratio of -0.95 and a beta of 2.30. Merrimack Pharmaceuticals has a 12 month low of $4.71 and a 12 month high of $15.40.
Several research firms have recently commented on MACK. JPMorgan Chase & Co. lowered shares of Merrimack Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Monday, June 25th. Robert W. Baird lowered their price target on shares of Merrimack Pharmaceuticals from $12.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research report on Wednesday, May 2nd. Finally, ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, July 2nd.
Merrimack Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on biomarker-defined cancers in the United States. The company's clinical programs include MM-121, which is in Phase II clinical trial for the treatment of patients with heregulin positive non-small cell lung cancer; and MM-141, a human tetravalent bispecific antibody that is in Phase II clinical trial for treating patients with metastatic pancreatic cancer with high serum levels of free insulin-like growth factor 1.
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