Trade Report: Today, Vetr Inc. lowers the Stock rating of Merrimack Pharmaceuticals Inc. (MACK)

Today, Vetr Inc. lowers the Stock rating of Merrimack Pharmaceuticals Inc. (MACK)

Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday. They currently have a $5.60 price objective on the biopharmaceutical company’s stock. Vetr‘s price objective indicates a potential downside of 8.42% from the stock’s previous close.

A number of other research analysts have also commented on MACK. Cowen and Company lowered Merrimack Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, August 5th. Brean Capital set a $13.00 price objective on Merrimack Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 5th. JPMorgan Chase & Co. lowered their price objective on Merrimack Pharmaceuticals from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Zacks Investment Research lowered Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th. Finally, Robert W. Baird restated a “neutral” rating and set a $7.00 target price (down previously from $8.00) on shares of Merrimack Pharmaceuticals in a research note on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $9.44.

Shares of Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 5.15% on Monday, reaching $6.08. The company had a trading volume of 2,328,178 shares. Merrimack Pharmaceuticals has a 12 month low of $4.39 and a 12 month high of $9.40. The company’s 50-day moving average is $5.61 and its 200 day moving average is $5.65. The firm’s market capitalization is $788.06 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its quarterly earnings data on Wednesday, November 9th. The biopharmaceutical company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.04. The company had revenue of $28.07 million for the quarter, compared to analyst estimates of $41 million. The business’s revenue was up 71.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) EPS. Equities analysts forecast that Merrimack Pharmaceuticals will post ($1.05) earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of 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. Chicago Equity Partners LLC increased its stake in shares of Merrimack Pharmaceuticals by 2.5% in the second quarter. Chicago Equity Partners LLC now owns 48,180 shares of the biopharmaceutical company’s stock worth $260,000 after buying an additional 1,160 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Merrimack Pharmaceuticals by 0.3% in the second quarter. Guggenheim Capital LLC now owns 421,079 shares of the biopharmaceutical company’s stock worth $2,270,000 after buying an additional 1,371 shares in the last quarter. LPL Financial LLC increased its stake in shares of Merrimack Pharmaceuticals by 6.1% in the third quarter. LPL Financial LLC now owns 27,703 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 1,600 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of 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. Institutional investors own 73.57% of the company’s stock.

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

Related posts

Leave a Comment