Wednesday, August 03, 2016 8:41:28 PM
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company.
Legal & General Group Plc boosted its position in Merrimack Pharmaceuticals by 40.6% in the first quarter. Legal & General Group Plc now owns 26,766 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 7,732 shares during the period. Chicago Equity Partners LLC boosted its position in Merrimack Pharmaceuticals by 2.5% in the second quarter.
Chicago Equity Partners LLC now owns 48,180 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 1,160 shares during the period. Commonwealth Equity Services Inc boosted its position in Merrimack Pharmaceuticals by 1.9% in the first quarter.
Commonwealth Equity Services Inc now owns 35,881 shares of the biopharmaceutical company’s stock valued at $300,000 after buying an additional 665 shares during the period. Boston Advisors LLC purchased a new position in Merrimack Pharmaceuticals during the second quarter valued at $311,000.
Finally, BlackRock Group LTD boosted its position in Merrimack Pharmaceuticals by 44.5% in the first quarter. BlackRock Group LTD now owns 44,007 shares of the biopharmaceutical company’s stock valued at $369,000 after buying an additional 13,542 shares during the period.
Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) traded up 2.62% on Wednesday, reaching $5.87. 1,476,983 shares of the company’s stock were exchanged. The company’s market cap is $749.75 million. Merrimack Pharmaceuticals Inc. has a 52-week low of $5.02 and a 52-week high of $11.18. The firm’s 50 day moving average price is $5.69 and its 200 day moving average price is $6.59.
Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Merrimack Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th.
Cowen and Company restated a “buy” rating on shares of Merrimack Pharmaceuticals in a report on Tuesday, May 3rd. Brean Capital restated a “buy” rating and set a $16.00 price target on shares of Merrimack Pharmaceuticals in a report on Friday, May 20th.
Robert W. Baird initiated coverage on shares of Merrimack Pharmaceuticals in a research note on Thursday, May 26th. They issued a “neutral” rating and a $8.00 target price on the stock. Finally, Mizuho reiterated a “buy” rating and issued a $13.00 target price on shares of Merrimack Pharmaceuticals in a research note on Friday, May 20th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Merrimack Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $12.54.
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