Merrimack Pharmaceuticals (MACK) Stock Rating Lowered by ValuEngine

Merrimack Pharmaceuticals (NASDAQ:MACK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other brokerages have also commented on MACK. Cowen restated a “hold” rating on shares of Merrimack Pharmaceuticals in a research note on Wednesday, November 7th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Wednesday, October 24th. Finally, Robert W. Baird set a $4.00 price target on shares of Merrimack Pharmaceuticals and gave the stock a “hold” rating in a research note on Saturday, October 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.38.

Shares of MACK traded up $0.05 during mid-day trading on Friday, hitting $5.02. 347,260 shares of the company’s stock were exchanged, compared to its average volume of 86,958. Merrimack Pharmaceuticals has a twelve month low of $3.34 and a twelve month high of $11.70. The firm has a market cap of $64.58 million, a price-to-earnings ratio of -0.89 and a beta of 2.08. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.22.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.65). As a group, research analysts predict that Merrimack Pharmaceuticals will post -4.6 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd increased its stake in shares of Merrimack Pharmaceuticals by 122.9% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,731 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 12,534 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Merrimack Pharmaceuticals during the 2nd quarter worth $143,000. Stonebridge Capital Management Inc. boosted its holdings in shares of Merrimack Pharmaceuticals by 64.7% during the 3rd quarter. Stonebridge Capital Management Inc. now owns 34,130 shares of the biopharmaceutical company’s stock worth $182,000 after buying an additional 13,405 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Merrimack Pharmaceuticals by 54,994.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,094 shares of the biopharmaceutical company’s stock worth $294,000 after buying an additional 54,994 shares during the period. Finally, Paloma Partners Management Co boosted its holdings in shares of Merrimack Pharmaceuticals by 379.5% during the 2nd quarter. Paloma Partners Management Co now owns 62,600 shares of the biopharmaceutical company’s stock worth $307,000 after buying an additional 49,544 shares during the period. Institutional investors own 47.06% of the company’s stock.

About Merrimack Pharmaceuticals

Merrimack Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on biomarker-defined cancers in the United States. The company's clinical programs include MM-121, which is in Phase II clinical trial for the treatment of patients with heregulin positive non-small cell lung cancer; and MM-141, a human tetravalent bispecific antibody that is in Phase II clinical trial for treating patients with metastatic pancreatic cancer with high serum levels of free insulin-like growth factor 1.

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