JPMorgan Chase & Co. lowered shares of Merrimack Pharmaceuticals (NASDAQ:MACK) from a neutral rating to an underweight rating in a research report released on Monday morning.
MACK has been the subject of a number of other research reports. Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a hold rating to a buy rating and set a $9.75 target price for the company in a research report on Wednesday, May 2nd. Robert W. Baird reissued a hold rating and issued a $12.00 target price on shares of Merrimack Pharmaceuticals in a research report on Thursday, March 15th.
Merrimack Pharmaceuticals opened at $5.32 on Monday, Marketbeat.com reports. Merrimack Pharmaceuticals has a one year low of $4.85 and a one year high of $15.40. The firm has a market cap of $66.18 million, a price-to-earnings ratio of -0.94 and a beta of 1.80.
Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings data on Tuesday, May 8th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.28) by ($0.05). equities analysts predict that Merrimack Pharmaceuticals will post -4.75 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Merrimack Pharmaceuticals in the fourth quarter valued at about $107,000. Spark Investment Management LLC bought a new stake in shares of Merrimack Pharmaceuticals in the fourth quarter valued at about $109,000. Virtu Financial LLC bought a new stake in shares of Merrimack Pharmaceuticals in the fourth quarter valued at about $115,000. Wells Fargo & Company MN boosted its position in shares of Merrimack Pharmaceuticals by 43.9% in the fourth quarter. Wells Fargo & Company MN now owns 18,287 shares of the biopharmaceutical company’s stock valued at $187,000 after acquiring an additional 5,581 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of Merrimack Pharmaceuticals in the fourth quarter valued at about $227,000. 56.90% of the stock is owned by institutional investors.
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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