The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 735,315 shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 34.06% since March 11, 2016 and is downtrending. It has underperformed by 39.52% the S&P500.
The move comes after 9 months negative chart setup for the $644.62 million company. It was reported on Oct, 14 by Barchart.com. We have $4.52 PT which if reached, will make NASDAQ:MACK worth $51.57 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 5 analysts covering Merrimack Pharmaceuticals (NASDAQ:MACK), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Merrimack Pharmaceuticals has been the topic of 8 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Mizuho maintained the shares of MACK in a report on Wednesday, December 23 with “Buy” rating. Robert W. Baird initiated the shares of MACK in a report on Friday, May 27 with “Neutral” rating. As per Friday, October 7, the company rating was downgraded by JP Morgan. Oppenheimer reinitiated Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Wednesday, August 12 with “Outperform” rating. The firm earned “Neutral” rating on Friday, August 19 by BTIG Research. On Wednesday, August 12 the stock rating was maintained by Mizuho with “Outperform”. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Buy” rating given on Tuesday, August 11 by Brean Capital. Oppenheimer maintained it with “Outperform” rating and $15 target price in Tuesday, October 27 report.
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 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.
Moreover, Savings Bank Of New York Mellon has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 678,029 shares. Highbridge Mngmt Ltd Com has 15,837 shares for 0% of their US portfolio. Jacobs Levy Equity Mgmt has 0% invested in the company for 42,400 shares. Da Davidson And has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). The Connecticut-based Cubist Systematic Strategies Limited Liability has invested 0.01% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Pacad last reported 0.01% of its portfolio in the stock. Perceptive Limited Com holds 0.02% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 50,000 shares. Franklin accumulated 1.30 million shares or 0% of the stock. Vanguard Gp holds 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 10.20 million shares. Parametric Assoc Lc owns 24,488 shares or 0% of their US portfolio. Balyasny Asset Management Lc has 33,166 shares for 0% of their US portfolio. Css Limited Liability Corporation Il holds 0% or 11,000 shares in its portfolio. Citigroup owns 27,121 shares or 0% of their US portfolio. Jane Street Grp Ltd Liability accumulated 17,755 shares or 0% of the stock. Clear Harbor Asset Mngmt Limited Liability Corporation, a New York-based fund reported 18,300 shares.
Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 1 sale for $275,000 net activity. Shares for $275,000 were sold by Schoeberl Birgit M..
More recent Merrimack Pharmaceuticals Inc (NASDAQ:MACK) news were published by: Fool.com which released: “Why Merrimack Pharmaceuticals Inc. Rose 38% in September” on October 10, 2016. Also Wsj.com published the news titled: “Merrimack Pharmaceuticals Cuts Jobs; CEO Resigns Amid Restructuring Effort” on October 03, 2016. Marketwatch.com‘s news article titled: “Merrimack Pharmaceuticals CEO resigns as company cuts 22% of workforce” with publication date: October 03, 2016 was also an interesting one.
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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