Brokerages expect that Merrimack Pharmaceuticals Inc (NASDAQ:MACK) will post earnings per share of ($1.01) for the current quarter, according to Zacks. Zero analysts have made estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals posted earnings of ($0.89) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 13.5%. The firm is scheduled to announce its next earnings results on Monday, March 11th.

On average, analysts expect that Merrimack Pharmaceuticals will report full year earnings of ($4.60) per share for the current year. For the next fiscal year, analysts expect that the company will post earnings of ($2.88) per share, with EPS estimates ranging from ($3.59) to ($2.16). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Merrimack Pharmaceuticals.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.65).

MACK has been the topic of several research analyst reports. ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Cowen restated a “hold” rating on shares of Merrimack Pharmaceuticals in a research note on Friday, October 19th. Robert W. Baird set a $4.00 target price on Merrimack Pharmaceuticals and gave the stock a “hold” rating in a research report on Saturday, October 20th. Finally, Zacks Investment Research raised Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.38.

Shares of Merrimack Pharmaceuticals stock opened at $4.55 on Wednesday. The firm has a market capitalization of $58.04 million, a PE ratio of -0.80 and a beta of 2.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.96 and a current ratio of 3.96. Merrimack Pharmaceuticals has a 1 year low of $3.34 and a 1 year high of $12.45.

A number of hedge funds have recently modified their holdings of MACK. Newtyn Management LLC lifted its position in Merrimack Pharmaceuticals by 349.6% in the second quarter. Newtyn Management LLC now owns 633,297 shares of the biopharmaceutical company’s stock worth $3,109,000 after purchasing an additional 492,440 shares during the period. Dimensional Fund Advisors LP lifted its position in Merrimack Pharmaceuticals by 83.8% in the first quarter. Dimensional Fund Advisors LP now owns 369,982 shares of the biopharmaceutical company’s stock worth $2,978,000 after purchasing an additional 168,657 shares during the period. Wittenberg Investment Management Inc. lifted its position in Merrimack Pharmaceuticals by 105.8% in the second quarter. Wittenberg Investment Management Inc. now owns 253,752 shares of the biopharmaceutical company’s stock worth $1,246,000 after purchasing an additional 130,441 shares during the period. Rubric Capital Management LP lifted its position in Merrimack Pharmaceuticals by 16.4% in the third quarter. Rubric Capital Management LP now owns 554,338 shares of the biopharmaceutical company’s stock worth $2,955,000 after purchasing an additional 78,174 shares during the period. Finally, Clearline Capital LP bought a new position in Merrimack Pharmaceuticals in the second quarter worth $291,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

About Merrimack Pharmaceuticals

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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