Merrimack Pharmaceuticals’ (MACK) Hold Rating Reiterated at Cowen

Cowen restated their hold rating on shares of Merrimack Pharmaceuticals (NASDAQ:MACK) in a report released on Wednesday morning.

MACK has been the subject of a number of other reports. ValuEngine upgraded shares of Merrimack Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, October 9th. Robert W. Baird set a $4.00 price target on shares of Merrimack Pharmaceuticals and gave the company a hold rating in a report on Saturday, October 20th. Finally, Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a hold rating to a buy rating and set a $4.75 price target for the company in a report on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $4.38.

Shares of MACK traded down $0.19 during mid-day trading on Wednesday, reaching $4.35. The company’s stock had a trading volume of 90,163 shares, compared to its average volume of 209,121. The firm has a market cap of $63.38 million, a price-to-earnings ratio of -0.77 and a beta of 2.56. Merrimack Pharmaceuticals has a 52 week low of $3.34 and a 52 week high of $12.54.

Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.92) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.65). Equities research analysts forecast that Merrimack Pharmaceuticals will post -3.87 EPS for the current year.

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd raised its holdings in 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 valued at $112,000 after buying an additional 12,534 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Merrimack Pharmaceuticals during the 2nd quarter valued at $143,000. Stonebridge Capital Management Inc. raised its holdings in Merrimack Pharmaceuticals by 64.7% during the 3rd quarter. Stonebridge Capital Management Inc. now owns 34,130 shares of the biopharmaceutical company’s stock valued at $182,000 after buying an additional 13,405 shares during the last quarter. LMR Partners LLP bought a new stake in Merrimack Pharmaceuticals during the 2nd quarter valued at $211,000. Finally, JPMorgan Chase & Co. raised its holdings in Merrimack Pharmaceuticals by 54,994.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 55,094 shares of the biopharmaceutical company’s stock valued at $294,000 after buying an additional 54,994 shares during the last quarter. Institutional investors own 46.86% of the company’s stock.

Merrimack Pharmaceuticals Company Profile

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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