Robert W. Baird restated their hold rating on shares of Merrimack Pharmaceuticals (NASDAQ:MACK) in a research report sent to investors on Thursday, March 15th. The firm currently has a $12.00 target price on the biopharmaceutical company’s stock.
MACK stock opened at $9.67 on Thursday. The firm has a market capitalization of $129.56, a PE ratio of 0.27 and a beta of 1.59. Merrimack Pharmaceuticals has a 1-year low of $9.55 and a 1-year high of $39.90.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. grew its holdings in shares of Merrimack Pharmaceuticals by 155.9% in the 4th quarter. Macquarie Group Ltd. now owns 24,130 shares of the biopharmaceutical company’s stock valued at $247,000 after acquiring an additional 14,700 shares in the last quarter. Jane Street Group LLC acquired a new stake in Merrimack Pharmaceuticals in the 4th quarter valued at about $107,000. Millennium Management LLC lifted its stake in Merrimack Pharmaceuticals by 219.6% in the 4th quarter. Millennium Management LLC now owns 204,566 shares of the biopharmaceutical company’s stock valued at $2,097,000 after purchasing an additional 140,567 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Merrimack Pharmaceuticals in the 4th quarter valued at about $227,000. Finally, Bogle Investment Management L P DE acquired a new stake in Merrimack Pharmaceuticals in the 4th quarter valued at about $681,000. Institutional investors own 54.03% of the company’s stock.
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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. The Company has one marketed therapeutic oncology product and multiple targeted therapeutic oncology candidates in clinical development.
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