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 transaction of $112,360.08. Following the sale, the director now directly owns 22,781 shares of the company’s stock, valued at approximately $324,173.63. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of Merrimack Pharmaceuticals, Inc. (MACK) opened at 14.15 on Friday. Merrimack Pharmaceuticals, Inc. has a 12 month low of $11.30 and a 12 month high of $67.90. The company has a market cap of $187.90 million, a P/E ratio of 0.44 and a beta of 2.02. The company’s 50 day moving average is $12.97 and its 200-day moving average is $21.97.
Merrimack Pharmaceuticals (NASDAQ:MACK) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.37) by ($0.81). During the same period in the prior year, the company earned ($4.00) EPS. Analysts expect that Merrimack Pharmaceuticals, Inc. will post $33.43 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Equities Focus and is the sole property of of Equities Focus. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.equitiesfocus.com/2017/09/17/ulrik-b-nielsen-sells-7896-shares-of-merrimack-pharmaceuticals-inc-mack-stock.html.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. ValuEngine downgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company’s stock. Merrimack Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $70.90.
Several large investors have recently added to or reduced their stakes in MACK. Stonebridge Capital Management Inc. lifted its holdings in shares of Merrimack Pharmaceuticals by 121.0% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 80,700 shares of the biopharmaceutical company’s stock worth $100,000 after acquiring an additional 44,181 shares during the period. Virtu KCG Holdings LLC lifted its holdings in shares of Merrimack Pharmaceuticals by 46.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 89,020 shares of the biopharmaceutical company’s stock worth $110,000 after acquiring an additional 28,235 shares during the period. Creative Planning lifted its holdings in shares of Merrimack Pharmaceuticals by 444.9% during the 2nd quarter. Creative Planning now owns 89,408 shares of the biopharmaceutical company’s stock worth $111,000 after acquiring an additional 73,000 shares during the period. Engineers Gate Manager LP bought a new position in shares of Merrimack Pharmaceuticals during the 2nd quarter worth about $113,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Merrimack Pharmaceuticals by 48.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 107,262 shares of the biopharmaceutical company’s stock worth $133,000 after acquiring an additional 34,983 shares during the period. 46.66% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Merrimack Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.