Analysts Anticipate Merrimack Pharmaceuticals, Inc. (MACK) Will Announce Earnings of -$0.28 Per Share

Equities analysts forecast that Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) will announce ($0.28) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Merrimack Pharmaceuticals’ earnings, with estimates ranging from ($1.45) to $1.69. Merrimack Pharmaceuticals posted earnings of ($2.50) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 88.8%. The business is scheduled to announce its next earnings results on Wednesday, March 7th.

On average, analysts expect that Merrimack Pharmaceuticals will report full year earnings of $36.83 per share for the current year, with EPS estimates ranging from $35.27 to $38.38. For the next fiscal year, analysts anticipate that the company will report earnings of ($5.44) per share, with EPS estimates ranging from ($7.62) to ($4.26). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Merrimack Pharmaceuticals.

A number of equities analysts have recently weighed in on MACK shares. Zacks Investment Research cut shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. ValuEngine cut shares of Merrimack Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Monday, October 2nd. Finally, Robert W. Baird reissued a “hold” rating and set a $15.00 price target on shares of Merrimack Pharmaceuticals in a research report on Friday, October 13th.

Shares of Merrimack Pharmaceuticals (NASDAQ MACK) traded down $0.01 during midday trading on Tuesday, hitting $11.55. 199,100 shares of the stock were exchanged, compared to its average volume of 260,858. Merrimack Pharmaceuticals has a 52 week low of $11.14 and a 52 week high of $57.00. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.45.

In other news, Director Ulrik B. Nielsen sold 14,756 shares of Merrimack Pharmaceuticals stock in a transaction on Monday, September 11th. The shares were sold at an average price of $14.46, for a total transaction of $213,371.76. Following the transaction, the director now directly owns 37,437 shares of the company’s stock, valued at $541,339.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ulrik B. Nielsen sold 21,556 shares of Merrimack Pharmaceuticals stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $14.40, for a total transaction of $310,406.40. Following the transaction, the director now directly owns 37,437 shares in the company, valued at $539,092.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,308 shares of company stock worth $637,558. Insiders own 8.53% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MACK. State Street Corp lifted its position in Merrimack Pharmaceuticals by 23.6% in the 1st quarter. State Street Corp now owns 6,611,230 shares of the biopharmaceutical company’s stock valued at $20,364,000 after acquiring an additional 1,261,783 shares in the last quarter. Vanguard Group Inc. lifted its position in Merrimack Pharmaceuticals by 11.6% in the 1st quarter. Vanguard Group Inc. now owns 10,265,752 shares of the biopharmaceutical company’s stock valued at $31,618,000 after acquiring an additional 1,070,816 shares in the last quarter. Newtyn Management LLC bought a new stake in Merrimack Pharmaceuticals in the 3rd quarter valued at $5,671,000. Rubric Capital Management LP bought a new stake in Merrimack Pharmaceuticals in the 3rd quarter valued at $4,913,000. Finally, Credit Suisse AG lifted its position in Merrimack Pharmaceuticals by 84.2% in the 1st quarter. Credit Suisse AG now owns 374,536 shares of the biopharmaceutical company’s stock valued at $1,154,000 after acquiring an additional 171,218 shares in the last quarter. 52.57% of the stock is currently owned by institutional investors and hedge funds.

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About Merrimack Pharmaceuticals

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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