The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 1.19M shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 32.23% since March 15, 2016 and is downtrending. It has underperformed by 37.71% the S&P500.
The move comes after 8 months positive chart setup for the $637.11 million company. It was reported on Oct, 18 by Barchart.com. We have $6.69 PT which if reached, will make NASDAQ:MACK worth $216.62 million more.
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. Oppenheimer reinitiated the stock with “Outperform” rating in Wednesday, August 12 report. The firm earned “Outperform” rating on Wednesday, August 12 by Mizuho. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Outperform” rating given on Tuesday, October 27 by Oppenheimer. The rating was initiated by BTIG Research with “Neutral” on Friday, August 19. Robert W. Baird initiated Merrimack Pharmaceuticals Inc (NASDAQ:MACK) rating on Friday, May 27. Robert W. Baird has “Neutral” rating and $8 price target. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) earned “Buy” rating by Brean Capital on Tuesday, August 11. The firm has “Neutral” rating by JP Morgan given on Friday, October 7. 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 increased to 1.17 in 2016 Q2. 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.
Alliancebernstein L P reported 187,400 shares or 0% of all its holdings. Federated Invsts Pa has 0% invested in the company for 80,000 shares. Qs Ltd Company holds 0.01% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 277,355 shares. Guggenheim Ltd Llc reported 421,079 shares or 0.01% of all its holdings. Boston Advsr Ltd Liability Com last reported 0.01% of its portfolio in the stock. Moreover, Garrison Bradford & has 0.44% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 82,700 shares. Commerce Natl Bank has 100,000 shares for 0.01% of their US portfolio. California Pub Employees Retirement Sys reported 92,700 shares or 0% of all its holdings. Price T Rowe Associate Md has 43,600 shares for 0% of their US portfolio. Citadel Ltd Liability Corp, a Illinois-based fund reported 232,928 shares. Blackrock Japan Commerce last reported 0% of its portfolio in the stock. State Street Corporation has 3.91M shares for 0% of their US portfolio. Vanguard Gru has 0% invested in the company for 10.20M shares. Allianz Asset Management Ag last reported 95,016 shares in the company. Legal & General Group Public Limited accumulated 0% or 26,766 shares.
Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 1 sale for $275,000 net activity. Schoeberl Birgit M. also sold $275,000 worth of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Monday, July 25.
More notable 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 Fool.com with their article: “How Risky Is Merrimack Pharmaceuticals Stock?” published on October 13, 2016, Benzinga.com published: “16 Stocks Moving In Tuesday’s Pre-Market Session” on October 18, 2016. More interesting news about Merrimack Pharmaceuticals Inc (NASDAQ:MACK) were released by: Wsj.com and their article: “Merrimack Pharmaceuticals Cuts Jobs; CEO Resigns Amid Restructuring Effort” published on October 03, 2016 as well as Marketwatch.com‘s news article titled: “Merrimack Pharmaceuticals CEO resigns as company cuts 22% of workforce” with publication date: October 03, 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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