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Tuesday, 05/23/2017 1:09:38 AM

Tuesday, May 23, 2017 1:09:38 AM

Post# of 27298
$MACK Brokerages Set Merrimack Pharmaceuticals Inc (MACK) Price Target at $9.77 MACK


Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) have been given a consensus recommendation of “Hold” by the eight analysts that are covering the stock. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.77.

A number of equities analysts have commented on MACK shares. Robert W. Baird restated a “neutral” rating and set a $5.00 price objective on shares of Merrimack Pharmaceuticals in a research report on Wednesday, January 11th. Cowen and Company restated a “market perform” rating on shares of Merrimack Pharmaceuticals in a research report on Thursday, January 12th. Finally, Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd.

Institutional investors have recently made changes to their positions in the company. Stoneridge Investment Partners LLC increased its position in shares of Merrimack Pharmaceuticals by 22.9% in the third quarter. Stoneridge Investment Partners LLC now owns 221,838 shares of the biopharmaceutical company’s stock worth $1,409,000 after buying an additional 41,304 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Merrimack Pharmaceuticals by 185.6% in the third quarter. BlackRock Advisors LLC now owns 306,854 shares of the biopharmaceutical company’s stock worth $1,949,000 after buying an additional 199,418 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Merrimack Pharmaceuticals by 10.5% in the third quarter. BlackRock Fund Advisors now owns 6,226,723 shares of the biopharmaceutical company’s stock worth $39,540,000 after buying an additional 591,021 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Merrimack Pharmaceuticals by 18.6% in the third quarter. New York State Common Retirement Fund now owns 260,057 shares of the biopharmaceutical company’s stock worth $1,651,000 after buying an additional 40,804 shares during the last quarter. Finally, Consonance Capital Management LP purchased a new position in shares of Merrimack Pharmaceuticals during the third quarter worth approximately $37,784,000. Institutional investors own 73.14% of the company’s stock.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded up 0.30% on Tuesday, hitting $3.31. 1,347,483 shares of the company traded hands. The stock’s 50-day moving average price is $3.16 and its 200-day moving average price is $4.02. Merrimack Pharmaceuticals has a 12 month low of $2.83 and a 12 month high of $7.14.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by $0.04. The company had revenue of $61.20 million for the quarter, compared to analysts’ expectations of $50.44 million. Merrimack Pharmaceuticals’s revenue for the quarter was up 186.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.41) EPS. On average, analysts expect that Merrimack Pharmaceuticals will post ($0.47) EPS for the current year.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in discovering, developing and commercializing medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.

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