Today: Merrimack Pharmaceuticals Inc. (MACK) Rating Decreased to Strong Sell at Vetr Inc.

Today: Merrimack Pharmaceuticals Inc. (MACK) Rating Decreased to Strong Sell at Vetr Inc.

Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) was downgraded by equities research analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued on Monday. They currently have a $5.60 target price on the biopharmaceutical company’s stock. Vetr‘s price target indicates a potential downside of 12.64% from the company’s previous close.

A number of other research analysts have also recently issued reports on MACK. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $7.00 target price on shares of Merrimack Pharmaceuticals in a research note on Thursday, November 10th. BTIG Research reiterated a “neutral” rating on shares of Merrimack Pharmaceuticals in a research note on Wednesday, October 5th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Robert W. Baird reiterated a “neutral” rating and issued a $7.00 target price (down previously from $8.00) on shares of Merrimack Pharmaceuticals in a research note on Wednesday, August 10th. Finally, Cowen and Company cut shares of Merrimack Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.44.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 6.41 on Monday. The stock’s 50 day moving average price is $5.59 and its 200 day moving average price is $5.67. Merrimack Pharmaceuticals has a 1-year low of $4.39 and a 1-year high of $9.63. The company’s market capitalization is $830.83 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its earnings results on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. The firm earned $28.07 million during the quarter, compared to the consensus estimate of $41 million. During the same quarter last year, the firm posted ($0.38) EPS. The business’s revenue was up 71.3% on a year-over-year basis. Analysts expect that Merrimack Pharmaceuticals will post ($1.05) EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Merrimack Pharmaceuticals by 5.0% in the second quarter. Principal Financial Group Inc. now owns 21,259 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 1,010 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Merrimack Pharmaceuticals during the third quarter worth approximately $127,000. Parametric Portfolio Associates LLC raised its stake in Merrimack Pharmaceuticals by 7.5% in the second quarter. Parametric Portfolio Associates LLC now owns 24,488 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 1,712 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Merrimack Pharmaceuticals by 147.9% in the second quarter. Cubist Systematic Strategies LLC now owns 25,128 shares of the biopharmaceutical company’s stock worth $135,000 after buying an additional 14,990 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Merrimack Pharmaceuticals by 254.1% in the second quarter. BlackRock Inc. now owns 27,874 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 20,002 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Merrimack Pharmaceuticals Company Profile

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. Its therapeutic oncology candidates in clinical development include MM-398, MM-302, MM-121, MM-141 and MM-151.

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