The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! The stock decreased 5.97% or $0.35 during the last trading session, hitting $5.51. About 2.73 million shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 18.72% since April 27, 2016 and is downtrending. It has underperformed by 23.95% the S&P500.
The move comes after 6 months negative chart setup for the $688.34M company. It was reported on Nov, 30 by Barchart.com. We have $5.18 PT which if reached, will make NASDAQ:MACK worth $41.30 million less.
Analysts await Merrimack Pharmaceuticals Inc (NASDAQ:MACK) to report earnings on February, 23. They expect $-0.22 EPS, up 46.34% or $0.19 from last year’s $-0.41 per share. After $-0.23 actual EPS reported by Merrimack Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts -4.35% 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 Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Wednesday, August 12 with “Outperform” rating. The rating was maintained by Mizuho on Wednesday, December 23 with “Buy”. JP Morgan downgraded Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Friday, October 7 to “Neutral” rating. Robert W. Baird initiated Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Friday, May 27 with “Neutral” rating. Oppenheimer maintained the stock with “Outperform” rating in Tuesday, October 27 report. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Outperform” rating given on Wednesday, August 12 by Oppenheimer. The rating was initiated by BTIG Research on Friday, August 19 with “Neutral”. The company was maintained on Tuesday, August 11 by Brean Capital.
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 dived, 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.
Garrison Bradford & reported 82,700 shares or 0.44% of all its holdings. Great West Life Assurance Can has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Bnp Paribas Arbitrage, a New York-based fund reported 4,740 shares. Franklin Res holds 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 1.30 million shares. Principal last reported 21,259 shares in the company. Parametric Port Assocs Limited last reported 24,488 shares in the company. Balyasny Asset Mngmt Llc holds 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 33,166 shares. Blair William & Il has 0.01% invested in the company for 286,850 shares. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Blackrock Investment Management Ltd last reported 471,710 shares in the company. Moreover, New England Private Wealth Advisors Limited Liability Company has 0.03% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 16,721 shares. Finance Architects, a New Jersey-based fund reported 500 shares. Sei Investments has 47,020 shares for 0% of their US portfolio. Perceptive Advsr Limited Company last reported 0.02% of its portfolio in the stock. Pnc Svcs holds 0% or 36,522 shares in its portfolio.
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 1 insider sale for $275,000 net activity. Schoeberl Birgit M. sold 50,000 shares worth $275,000.
Another recent and important Merrimack Pharmaceuticals Inc (NASDAQ:MACK) news was published by Fool.com which published an article titled: “Why Merrimack Pharmaceuticals, Inc. Shares Sank 18% Lower in October” 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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