The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 2.06 million shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 7.36% since March 1, 2016 and is downtrending. It has underperformed by 16.60% the S&P500.
The move comes after 9 months positive chart setup for the $758.49 million company. It was reported on Oct, 4 by Barchart.com. We have $7.59 PT which if reached, will make NASDAQ:MACK worth $174.45 million more.
Analysts await Merrimack Pharmaceuticals Inc (NASDAQ:MACK) to report earnings on November, 14. They expect $-0.27 earnings per share, up 28.95% or $0.11 from last year’s $-0.38 per share. After $-0.40 actual earnings per share 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. Oppenheimer maintained it with “Outperform” rating and $15 target price in Tuesday, October 27 report. On Friday, August 19 the stock rating was initiated by BTIG Research with “Neutral”. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Outperform” rating given on Wednesday, August 12 by Oppenheimer. The firm earned “Outperform” rating on Wednesday, August 12 by Mizuho. The firm has “Buy” rating given on Tuesday, August 11 by Brean Capital. The firm has “Buy” rating by Mizuho given on Wednesday, December 23. The stock has “Neutral” rating given by Robert W. Baird on Friday, May 27.
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 Q2 2016. Its up 0.09, from 1.08 in 2016Q1. The ratio improved, 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.
Morgan Stanley, a New York-based fund reported 883,573 shares. Moreover, Metropolitan Life Insurance Ny has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 93,344 shares. Jacobs Levy Equity Mgmt owns 42,400 shares or 0% of their US portfolio. Birchview Capital Lp last reported 0.17% of its portfolio in the stock. The Kansas-based Creative Planning has invested 0% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Moreover, New England Private Wealth Advisors Limited Com has 0.03% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 16,721 shares. Highbridge Lc last reported 0% of its portfolio in the stock. Family Mgmt accumulated 0.04% or 14,000 shares. Voya Inv Mgmt Ltd holds 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 50,986 shares. Jnba Fincl Advsrs holds 0% or 1,250 shares in its portfolio. Lpl Finance Ltd Liability Com last reported 26,103 shares in the company. Nationwide Fund last reported 0% of its portfolio in the stock. Swiss Bank reported 185,600 shares or 0% of all its holdings. Millennium Management Limited Liability Com, a New York-based fund reported 2.05M shares. The Missouri-based National Bank has invested 0.01% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK).
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 1 insider sale for $275,000 net activity. 50,000 shares were sold by Schoeberl Birgit M., worth $275,000.
More important 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 published article titled: “Janus Capital and Cabela’s soar; Merrimack Pharma sinks”, Marketwatch.com published: “Merrimack Pharmaceuticals CEO resigns as company cuts 22% of workforce” on October 03, 2016. More interesting news about Merrimack Pharmaceuticals Inc (NASDAQ:MACK) was released by: Fool.com and their article: “Why Merrimack Pharmaceuticals Inc Fell 20.3% in August” with publication date: September 12, 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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