Price Action Alert: Merrimack Pharmaceuticals Inc’s Stock Is Sell After Today’s Significant Decline

Price Action Alert: Merrimack Pharmaceuticals Inc's Stock Is Sell After Today's Significant Decline

The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) is a huge mover today! About 1.35 million shares traded hands. Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has declined 37.21% since April 6, 2016 and is downtrending. It has underperformed by 39.17% the S&P500.
The move comes after 6 months negative chart setup for the $684.69M company. It was reported on Nov, 8 by Barchart.com. We have $4.91 PT which if reached, will make NASDAQ:MACK worth $41.08 million less.

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. As per Wednesday, December 23, the company rating was maintained by Mizuho. Mizuho maintained the stock with “Outperform” rating in Wednesday, August 12 report. Robert W. Baird initiated Merrimack Pharmaceuticals Inc (NASDAQ:MACK) on Friday, May 27 with “Neutral” rating. The firm has “Neutral” rating given on Friday, August 19 by BTIG Research. The rating was maintained by Oppenheimer on Tuesday, October 27 with “Outperform”. The stock of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has “Neutral” rating given on Friday, October 7 by JP Morgan. Brean Capital maintained the shares of MACK in a report on Tuesday, August 11 with “Buy” rating.

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.
Alesco Ltd Liability holds 0.01% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 17,532 shares. Guggenheim Cap Ltd Liability Corporation holds 0.01% or 421,079 shares in its portfolio. The New York-based Jane Street Grp Lc has invested 0% in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). State Street last reported 0% of its portfolio in the stock. Pacad Investment Ltd holds 0.01% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 13,900 shares. Boston Private Wealth Limited has invested 0.01% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). Moreover, Franklin Resources Incorporated has 0% invested in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 1.30M shares. State Board Of Administration Of Florida Retirement Systems has invested 0% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK). California Public Employees Retirement holds 0% or 92,700 shares in its portfolio. Princeton Portfolio Strategies Group Incorporated Limited Liability last reported 44,861 shares in the company. Schwab Charles Investment Mgmt Inc reported 438,355 shares or 0% of all its holdings. Garrison Bradford Associates Incorporated holds 0.44% of its portfolio in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) for 82,700 shares. Cambridge last reported 0.06% of its portfolio in the stock. Qs Investors accumulated 277,355 shares or 0.01% of the stock. New York State Common Retirement Fund holds 219,253 shares or 0% of its portfolio.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 1 sale for $275,000 net activity. Schoeberl Birgit M. also sold $275,000 worth of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) shares.

More news for Merrimack Pharmaceuticals Inc (NASDAQ:MACK) were recently published by: Fool.com, which released: “Why Merrimack Pharmaceuticals Inc. Rose 38% in September” on October 10, 2016. Fool.com‘s article titled: “How Risky Is Merrimack Pharmaceuticals Stock?” and published on October 13, 2016 is yet another important article.

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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