Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) Director Ulrik B. Nielsen sold 7,896 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $14.23, for a total value of $112,360.08. Following the completion of the sale, the director now directly owns 22,781 shares of the company’s stock, valued at $324,173.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Merrimack Pharmaceuticals, Inc. (MACK) remained flat at $14.15 during trading on Friday. 336,623 shares of the stock were exchanged. The stock has a market cap of $187.90 million, a PE ratio of 0.44 and a beta of 2.02. The stock’s 50-day moving average is $12.95 and its 200 day moving average is $22.09. Merrimack Pharmaceuticals, Inc. has a 1-year low of $11.30 and a 1-year high of $67.90.
Merrimack Pharmaceuticals (NASDAQ:MACK) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.37) by ($0.81). During the same period in the previous year, the company earned ($4.00) EPS. Equities analysts expect that Merrimack Pharmaceuticals, Inc. will post $33.43 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Merrimack Pharmaceuticals by 11.6% in the first quarter. Vanguard Group Inc. now owns 10,265,752 shares of the biopharmaceutical company’s stock worth $31,618,000 after acquiring an additional 1,070,816 shares during the last quarter. State Street Corp lifted its holdings in Merrimack Pharmaceuticals by 23.6% in the first quarter. State Street Corp now owns 6,611,230 shares of the biopharmaceutical company’s stock worth $20,364,000 after acquiring an additional 1,261,783 shares during the last quarter. Northern Trust Corp lifted its holdings in Merrimack Pharmaceuticals by 2.0% in the second quarter. Northern Trust Corp now owns 1,448,367 shares of the biopharmaceutical company’s stock worth $1,796,000 after acquiring an additional 28,243 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Merrimack Pharmaceuticals by 4.4% in the first quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock worth $3,079,000 after acquiring an additional 42,194 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Merrimack Pharmaceuticals by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock worth $2,243,000 after acquiring an additional 13,664 shares during the last quarter. 46.66% of the stock is currently owned by hedge funds and other institutional investors.
MACK has been the topic of several recent research reports. ValuEngine upgraded Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Cowen and Company restated a “market perform” rating on shares of Merrimack Pharmaceuticals in a research report on Friday, May 19th. Finally, Zacks Investment Research cut Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. Merrimack Pharmaceuticals has a consensus rating of “Hold” and an average target price of $70.90.
Merrimack Pharmaceuticals Company Profile
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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