Zacks: Analysts Expect Merrimack Pharmaceuticals (MACK) Will Announce Earnings of -$1.28 Per Share

Wall Street analysts expect Merrimack Pharmaceuticals (NASDAQ:MACK) to report earnings per share (EPS) of ($1.28) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals posted earnings per share of ($2.20) in the same quarter last year, which would indicate a positive year over year growth rate of 41.8%. The company is scheduled to report its next earnings results on Wednesday, May 9th.

On average, analysts expect that Merrimack Pharmaceuticals will report full-year earnings of ($4.68) per share for the current year, with EPS estimates ranging from ($5.45) to ($4.17). For the next financial year, analysts forecast that the firm will report earnings of ($3.94) per share, with EPS estimates ranging from ($4.64) to ($3.58). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Merrimack Pharmaceuticals.

How to Become a New Pot Stock Millionaire

Separately, Robert W. Baird reiterated a “hold” rating and issued a $12.00 price objective on shares of Merrimack Pharmaceuticals in a research report on Thursday, March 15th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MACK. Rubric Capital Management LP purchased a new stake in Merrimack Pharmaceuticals during the third quarter valued at about $4,913,000. Millennium Management LLC raised its position in Merrimack Pharmaceuticals by 219.6% during the fourth 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 in the last quarter. Yakira Capital Management Inc. raised its position in Merrimack Pharmaceuticals by 445.0% during the fourth quarter. Yakira Capital Management Inc. now owns 83,969 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 68,562 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Merrimack Pharmaceuticals during the fourth quarter valued at about $681,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Merrimack Pharmaceuticals during the third quarter valued at about $376,000. Institutional investors and hedge funds own 54.14% of the company’s stock.

Shares of MACK stock traded up $0.05 on Friday, reaching $8.51. The company’s stock had a trading volume of 88,277 shares, compared to its average volume of 158,852. Merrimack Pharmaceuticals has a 12-month low of $7.36 and a 12-month high of $39.90. The company has a market capitalization of $116.22, a PE ratio of -1.50 and a beta of 1.80.

TRADEMARK VIOLATION WARNING: “Zacks: Analysts Expect Merrimack Pharmaceuticals (MACK) Will Announce Earnings of -$1.28 Per Share” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another domain, it was stolen and republished in violation of US and international copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/20/zacks-analysts-expect-merrimack-pharmaceuticals-mack-will-announce-earnings-of-1-28-per-share.html.

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.

Get a free copy of the Zacks research report on Merrimack Pharmaceuticals (MACK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Merrimack Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply