Stock On Watch: Time to Buy Merrimack Pharmaceuticals Inc After Today’s Huge Increase?

Stock On Watch: Time to Buy Merrimack Pharmaceuticals Inc After Today's Huge Increase?

The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 1.86M shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 39.64% since April 4, 2016 and is downtrending. It has underperformed by 40.73% the S&P500.
The move comes after 6 months positive chart setup for the $697.90M company. It was reported on Nov, 4 by Barchart.com. We have $8.05 PT which if reached, will make NASDAQ:MACK worth $341.97M more.

Analysts await Merrimack Pharmaceuticals Inc (NASDAQ:MACK) to report earnings on November, 14. They expect $-0.27 earnings per share, up 28.95% or $0.11 from last year’s $-0.38 per share. After $-0.40 actual earnings per share 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. The rating was reinitiated by Oppenheimer with “Outperform” on Wednesday, August 12. The stock has “Buy” rating given by Mizuho on Wednesday, December 23. The firm has “Buy” rating by Brean Capital given on Tuesday, August 11. Oppenheimer maintained Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Tuesday, October 27 with “Outperform” rating. Mizuho maintained the stock with “Outperform” rating in Wednesday, August 12 report. BTIG Research initiated Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Friday, August 19 with “Neutral” rating. Robert W. Baird initiated it with “Neutral” rating and $8 target price in Friday, May 27 report. On Friday, October 7 the stock rating was downgraded by JP Morgan to “Neutral”.

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 improved, 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.
Millennium Management Ltd Liability Co accumulated 0.03% or 2.05 million shares. Blackrock has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Moreover, Bancorp Of Montreal Can has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 13,383 shares. Voya Management Ltd Llc last reported 50,986 shares in the company. Great West Life Assurance Can owns 9,526 shares or 0% of their US portfolio. Royal National Bank & Trust Of Canada, a Ontario – Canada-based fund reported 728,334 shares. Connor Clark And Lunn has 0% invested in the company for 109,300 shares. Perceptive Ltd Liability Corporation holds 0.02% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 50,000 shares. Blackrock Advisors Ltd last reported 107,436 shares in the company. The Pennsylvania-based Stevens Capital Mgmt Lp has invested 0% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Plante Moran Financial Advsr Ltd Liability holds 2,000 shares or 0.01% of its portfolio. Westfield Cap Mngmt Lp, a Massachusetts-based fund reported 9.07 million shares. Asset Mgmt Group Incorporated last reported 19,453 shares in the company. Ladenburg Thalmann Financial has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Blackrock Invest Management Limited Liability Com owns 471,710 shares or 0% of their US portfolio.

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 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 Prnewswire.com published the news titled: “Merrimack Announces Acceptance for Review of ANDA filed by Actavis for Generic …” on October 31, 2016. Fool.com‘s news article titled: “How Risky Is Merrimack Pharmaceuticals Stock?” with publication date: October 13, 2016 was also an interesting one.

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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