The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 1.45M shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 18.51% since April 18, 2016 and is downtrending. It has underperformed by 22.94% the S&P500.
The move comes after 6 months negative chart setup for the $811.95 million company. It was reported on Nov, 18 by Barchart.com. We have $5.54 PT which if reached, will make NASDAQ:MACK worth $73.08M less.
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. Oppenheimer maintained Merrimack Pharmaceuticals Inc (NASDAQ:MACK) rating on Tuesday, October 27. Oppenheimer has “Outperform” rating and $15 price target. The firm earned “Neutral” rating on Friday, August 19 by BTIG Research. On Wednesday, August 12 the stock rating was reinitiated by Oppenheimer with “Outperform”. The rating was maintained by Mizuho on Wednesday, August 12 with “Outperform”. The firm has “Neutral” rating by JP Morgan given on Friday, October 7. The firm has “Buy” rating given on Tuesday, August 11 by Brean Capital. Robert W. Baird initiated it with “Neutral” rating and $8 target price in Friday, May 27 report. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Buy” rating given on Wednesday, December 23 by Mizuho.
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 decreased to 1.07 in 2016 Q2. Its down 0.10, from 1.17 in 2016Q1. The ratio is negative, 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.
Voya Investment Management Ltd Limited Liability Company reported 50,986 shares or 0% of all its holdings. The Illinois-based Blair William & Il has invested 0.01% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Manchester Cap Mngmt Lc holds 0.02% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 30,000 shares. Jane Street Group Ltd Limited Liability Company accumulated 0% or 17,755 shares. American Inc reported 70,257 shares or 0% of all its holdings. California State Teachers Retirement System, a California-based fund reported 255,914 shares. Northern Trust Corp has 0% invested in the company for 1.39M shares. Principal Financial Gp Inc holds 21,259 shares or 0% of its portfolio. Moreover, Blackrock Incorporated has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 27,874 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Management, a Alberta – Canada-based fund reported 232,430 shares. The Florida-based State Board Of Administration Of Florida Retirement Systems has invested 0% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Pacad Investment Limited holds 13,900 shares or 0.01% of its portfolio. The Illinois-based Balyasny Asset Ltd has invested 0% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Clear Harbor Asset Limited Liability Company last reported 0.02% of its portfolio in the stock. Millennium Limited Co accumulated 0.03% or 2.05M shares.
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 1 insider sale for $275,000 net activity. Schoeberl Birgit M. also sold $275,000 worth of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) shares.
Another recent and important Merrimack Pharmaceuticals Inc (NASDAQ:MACK) news was published by Nasdaq.com which published an article titled: “Earnings Reaction History: Merrimack Pharmaceuticals Inc, 40.0% Follow-Through …” on November 09, 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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