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.
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.
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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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