Merrimack Pharmaceuticals (NASDAQ:MACK) Research Coverage Started at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Merrimack Pharmaceuticals (NASDAQ:MACK – Get Rating) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the biopharmaceutical company’s stock.

Merrimack Pharmaceuticals stock opened at $6.24 on Wednesday. The company has a market capitalization of $83.68 million, a PE ratio of -44.57 and a beta of 1.69. The firm has a fifty day simple moving average of $5.49 and a two-hundred day simple moving average of $5.40. Merrimack Pharmaceuticals has a twelve month low of $3.66 and a twelve month high of $7.41.

Merrimack Pharmaceuticals (NASDAQ:MACK – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.04) EPS for the quarter.

In related news, insider Gary L. Crocker purchased 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was bought at an average cost of $6.16 per share, with a total value of $30,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Noah G. Levy purchased 20,938 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The stock was bought at an average cost of $5.17 per share, with a total value of $108,249.46. Following the completion of the purchase, the director now owns 1,010,515 shares of the company’s stock, valued at $5,224,362.55. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 38,694 shares of company stock valued at $209,149. Insiders own 25.80% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in MACK. Morgan Stanley raised its stake in Merrimack Pharmaceuticals by 87.8% in the second quarter. Morgan Stanley now owns 11,161 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 5,218 shares in the last quarter. BlackRock Inc. raised its stake in Merrimack Pharmaceuticals by 12.8% in the third quarter. BlackRock Inc. now owns 211,051 shares of the biopharmaceutical company’s stock worth $1,020,000 after buying an additional 23,961 shares in the last quarter. Citadel Advisors LLC grew its holdings in Merrimack Pharmaceuticals by 38.8% in the third quarter. Citadel Advisors LLC now owns 10,622 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 2,970 shares during the period. Radnor Capital Management LLC purchased a new stake in Merrimack Pharmaceuticals in the fourth quarter worth about $52,000. Finally, Yakira Capital Management Inc. grew its holdings in Merrimack Pharmaceuticals by 21.1% in the fourth quarter. Yakira Capital Management Inc. now owns 73,450 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 12,816 shares during the period. 55.93% of the stock is owned by institutional investors.

Merrimack Pharmaceuticals Company Profile (Get Rating)

Merrimack Pharmaceuticals, Inc operates as a biopharmaceutical company. The company was incorporated in 1993 and is headquartered in Cambridge, Massachusetts.

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