Brokerages expect Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) to post $33.00 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals reported sales of $61.24 million in the same quarter last year, which indicates a negative year over year growth rate of 46.1%. The business is expected to announce its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Merrimack Pharmaceuticals will report full year sales of $33.00 million for the current financial year. For the next financial year, analysts anticipate that the business will report sales of $0.00 per share. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Merrimack Pharmaceuticals.
A number of brokerages have weighed in on MACK. Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine raised shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Merrimack Pharmaceuticals in a research note on Friday, October 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $61.80.
Merrimack Pharmaceuticals (NASDAQ:MACK) traded down $0.55 during mid-day trading on Friday, reaching $11.86. 125,000 shares of the company’s stock traded hands, compared to its average volume of 267,053. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.45. Merrimack Pharmaceuticals has a 12 month low of $11.14 and a 12 month high of $67.90.
In other Merrimack Pharmaceuticals news, Director Ulrik B. Nielsen sold 7,896 shares of Merrimack Pharmaceuticals stock in a transaction on Friday, September 15th. The shares were sold at an average price of $14.23, for a total transaction of $112,360.08. Following the completion of the transaction, the director now directly owns 22,781 shares of the company’s stock, valued at $324,173.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ulrik B. Nielsen sold 14,756 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $14.46, for a total transaction of $213,371.76. Following the completion of the sale, the director now directly owns 37,437 shares of the company’s stock, valued at approximately $541,339.02. The disclosure for this sale can be found here. Insiders have sold a total of 44,308 shares of company stock worth $637,558 in the last three months. 8.53% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MACK. Stonebridge Capital Management Inc. increased its position in shares of Merrimack Pharmaceuticals by 121.0% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 80,700 shares of the biopharmaceutical company’s stock valued at $100,000 after purchasing an additional 44,181 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in Merrimack Pharmaceuticals by 46.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock worth $110,000 after purchasing an additional 28,235 shares during the period. Creative Planning boosted its stake in Merrimack Pharmaceuticals by 444.9% in the 2nd quarter. Creative Planning now owns 89,408 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 73,000 shares during the period. Engineers Gate Manager LP bought a new position in Merrimack Pharmaceuticals in the 2nd quarter worth about $113,000. Finally, UBS Asset Management Americas Inc. boosted its stake in Merrimack Pharmaceuticals by 48.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock worth $133,000 after purchasing an additional 34,983 shares during the period.
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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. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.
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