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

Equities analysts expect that Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) will announce earnings of ($0.28) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Merrimack Pharmaceuticals’ earnings. The lowest EPS estimate is ($1.45) and the highest is $1.69. Merrimack Pharmaceuticals posted earnings of ($2.50) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 88.8%. The firm 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 financial year, with EPS estimates ranging from $35.27 to $38.38. For the next fiscal year, analysts forecast that the business will report earnings of ($5.44) per share, with EPS estimates ranging from ($7.62) to ($4.26). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Merrimack Pharmaceuticals.

A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Merrimack Pharmaceuticals in a research report on Friday, October 13th. Finally, Zacks Investment Research downgraded shares of Merrimack Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th.

Large investors have recently made changes to their positions in the stock. Rubric Capital Management LP acquired a new stake in shares of Merrimack Pharmaceuticals during the 3rd quarter valued at approximately $4,913,000. Newtyn Management LLC acquired a new stake in shares of Merrimack Pharmaceuticals during the 3rd quarter valued at approximately $5,671,000. Dimensional Fund Advisors LP acquired a new stake in shares of Merrimack Pharmaceuticals during the 3rd quarter valued at approximately $376,000. Macquarie Group Ltd. acquired a new stake in shares of Merrimack Pharmaceuticals during the 3rd quarter valued at approximately $137,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Merrimack Pharmaceuticals by 14.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 113,235 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 14,591 shares during the period. Hedge funds and other institutional investors own 50.14% of the company’s stock.

Merrimack Pharmaceuticals (MACK) traded down $0.13 during midday trading on Friday, hitting $10.22. The company had a trading volume of 238,500 shares, compared to its average volume of 258,532. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.35 and a current ratio of 3.35. Merrimack Pharmaceuticals has a 52-week low of $10.04 and a 52-week high of $54.80.

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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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