Merrimack Pharmaceuticals (NASDAQ:MACK) Issues Quarterly Earnings Results

Merrimack Pharmaceuticals (NASDAQ:MACKGet Free Report) posted its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.03) EPS for the quarter, reports.

Merrimack Pharmaceuticals Price Performance

Shares of NASDAQ:MACK opened at $15.13 on Friday. Merrimack Pharmaceuticals has a fifty-two week low of $11.53 and a fifty-two week high of $15.89. The stock has a market cap of $223.77 million, a price-to-earnings ratio of 1.09 and a beta of 1.45. The firm’s 50 day moving average price is $14.81 and its 200 day moving average price is $13.87.

Merrimack Pharmaceuticals Increases Dividend

The company also recently announced a dividend, which was paid on Friday, May 17th. Investors of record on Tuesday, May 21st were paid a dividend of $15.10 per share. This represents a dividend yield of 99.87%. This is a positive change from Merrimack Pharmaceuticals’s previous dividend of $1.50. The ex-dividend date of this dividend was Monday, May 20th.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, May 13th.

Check Out Our Latest Research Report on MACK

Institutional Investors Weigh In On Merrimack Pharmaceuticals

Large investors have recently modified their holdings of the company. Sepio Capital LP grew its stake in shares of Merrimack Pharmaceuticals by 4.1% during the third quarter. Sepio Capital LP now owns 306,680 shares of the biopharmaceutical company’s stock worth $3,781,000 after purchasing an additional 12,135 shares in the last quarter. Wittenberg Investment Management Inc. lifted its holdings in Merrimack Pharmaceuticals by 2.3% during the 3rd quarter. Wittenberg Investment Management Inc. now owns 209,739 shares of the biopharmaceutical company’s stock worth $2,586,000 after buying an additional 4,745 shares during the last quarter. Kennedy Capital Management LLC boosted its position in shares of Merrimack Pharmaceuticals by 2.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 93,708 shares of the biopharmaceutical company’s stock worth $1,155,000 after acquiring an additional 2,202 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Merrimack Pharmaceuticals in the 4th quarter valued at about $159,000. Finally, Strs Ohio acquired a new stake in shares of Merrimack Pharmaceuticals during the 4th quarter worth about $44,000. 63.97% of the stock is owned by hedge funds and other institutional investors.

About Merrimack Pharmaceuticals

(Get Free Report)

Merrimack Pharmaceuticals, Inc operates as a biopharmaceutical company in the United States. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.

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Earnings History for Merrimack Pharmaceuticals (NASDAQ:MACK)

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