Vetr lowered shares of Merrimack Pharmaceuticals Inc. (NASDAQ:MACK) from a sell rating to a strong sell rating in a research report released on Monday morning. The firm currently has $5.60 target price on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. restated a hold rating and set a $7.00 target price on shares of Merrimack Pharmaceuticals in a report on Thursday, November 10th. BTIG Research restated a neutral rating on shares of Merrimack Pharmaceuticals in a report on Thursday, November 10th. Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a hold rating to a buy rating and set a $5.50 target price for the company in a report on Wednesday, October 19th. Finally, Robert W. Baird restated a neutral rating and set a $7.00 target price (down from $8.00) on shares of Merrimack Pharmaceuticals in a report on Wednesday, August 10th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Merrimack Pharmaceuticals currently has a consensus rating of Buy and an average target price of $10.19.

Analyst Recommendations for Merrimack Pharmaceuticals (NASDAQ:MACK)

Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 6.08 on Monday. The stock has a 50 day moving average of $5.61 and a 200 day moving average of $5.65. The firm’s market capitalization is $788.06 million. Merrimack Pharmaceuticals has a one year low of $4.39 and a one year high of $9.40.

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

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Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Merrimack Pharmaceuticals during the third quarter valued at about $127,000. Principal Financial Group Inc. boosted 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 valued at $115,000 after buying an additional 1,010 shares in the last quarter. Parametric Portfolio Associates LLC boosted 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 valued at $132,000 after buying an additional 1,712 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Merrimack Pharmaceuticals during the third quarter valued at about $156,000. Finally, Cubist Systematic Strategies LLC boosted 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 valued at $135,000 after buying an additional 14,990 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.

5 Day Chart for NASDAQ:MACK

To view Vetr’s full report, visit Vetr’s official website.

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