The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 8.28 million shares traded hands or 193.62% up from the average. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has risen 9.67% since February 29, 2016 and is uptrending. It has underperformed by 2.54% the S&P500.
The move comes after 6 months negative chart setup for the $791.84 million company. It was reported on Oct, 4 by Barchart.com. We have $5.67 PT which if reached, will make NASDAQ:MACK worth $55.43 million less.
Analysts await Merrimack Pharmaceuticals Inc (NASDAQ:MACK) to report earnings on November, 14. They expect $-0.27 EPS, up 28.95% or $0.11 from last year’s $-0.38 per share. After $-0.40 actual EPS reported by Merrimack Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts -32.50% EPS growth.
Merrimack Pharmaceuticals Inc (NASDAQ:MACK) Ratings Coverage
Out of 4 analysts covering Merrimack Pharmaceuticals (NASDAQ:MACK), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Merrimack Pharmaceuticals has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Tuesday, August 11 by Brean Capital. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) earned “Buy” rating by Mizuho on Wednesday, December 23. The company was maintained on Wednesday, August 12 by Mizuho. As per Friday, August 19, the company rating was initiated by BTIG Research. Robert W. Baird initiated the shares of MACK in a report on Friday, May 27 with “Neutral” rating. Oppenheimer maintained Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Tuesday, October 27 with “Outperform” rating. The stock has “Outperform” rating given by Oppenheimer on Wednesday, August 12.
According to Zacks Investment Research, “Merrimack Pharmaceuticals, Inc., is a biopharmaceutical company focused on the discovery, development and preparation to commercialize innovative medicines paired with companion diagnostics for the treatment of serious diseases, with a special focus on cancer. Merrimack Pharmaceuticals, Inc. is headquartered in Cambridge, Massachusetts.”
Insitutional Activity: The institutional sentiment increased to 1.17 in 2016 Q2. Its up 0.09, from 1.08 in 2016Q1. The ratio increased, as 28 funds sold all Merrimack Pharmaceuticals Inc shares owned while 25 reduced positions. 20 funds bought stakes while 42 increased positions. They now own 83.26 million shares or 1.81% more from 81.78 million shares in 2016Q1.
Citadel Advsrs last reported 0% of its portfolio in the stock. Moreover, California Employees Retirement has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 92,700 shares. Group One Trading Limited Partnership holds 17,432 shares or 0% of its portfolio. Axa holds 0.02% or 948,279 shares in its portfolio. Parametric Port, a Washington-based fund reported 24,488 shares. State Board Of Administration Of Florida Retirement Sys has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Tci Wealth Advsrs accumulated 0% or 500 shares. Voya Mngmt Ltd Liability Corporation, a Georgia-based fund reported 50,986 shares. Mariner Investment Grp Ltd Liability Com has invested 0.11% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Nationwide Fund Advisors reported 120,513 shares or 0% of all its holdings. Capstone Inv Limited Com holds 0.01% or 56,103 shares in its portfolio. Savings Bank Of America Corporation De last reported 60,868 shares in the company. Moreover, Weiss Multi has 0.01% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 32,805 shares. Citigroup owns 27,121 shares or 0% of their US portfolio. Chicago Equity Prtnrs Ltd Co accumulated 48,180 shares or 0.01% of the stock.
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 1 sale for $275,000 net activity. Shares for $275,000 were sold by Schoeberl Birgit M..
More notable recent Merrimack Pharmaceuticals Inc (NASDAQ:MACK) news were published by: Wsj.com which released: “Merrimack Pharmaceuticals Cuts Jobs; CEO Resigns Amid Restructuring Effort” on October 03, 2016, also Washingtonpost.com with their article: “Janus Capital and Cabela’s soar; Merrimack Pharma sinks” published on October 03, 2016, Schaeffersresearch.com published: “Buzz Stocks: Tesla Motors Inc, Twitter Inc, and Merrimack Pharmaceuticals Inc” on October 03, 2016. More interesting news about Merrimack Pharmaceuticals Inc (NASDAQ:MACK) were released by: Fool.com and their article: “Why Merrimack Pharmaceuticals Inc Fell 20.3% in August” published on September 12, 2016 as well as Marketwatch.com‘s news article titled: “Merrimack Pharmaceuticals CEO resigns as company cuts 22% of workforce” with publication date: October 03, 2016.
MACK Company Profile
Merrimack Pharmaceuticals, Inc., incorporated on July 6, 2010, is a biopharmaceutical company. The Firm is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company’s therapeutic oncology candidates in clinical development include MM-398, MM-302, MM-121, MM-141 and MM-151. The Firm is developing in vitro and in vivo diagnostics for use with each of its oncology therapeutic product candidates. The Company’s in vitro diagnostic agents employ biophysical or biochemical markers of cancer, or biomarkers, which the Company has identified using its systems biology approach. The Company’s in vivo diagnostics take the form of imaging agents that may help identify patients likely to benefit from its therapeutic products by measuring deposition of its products in the tumor.
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