Merrimack Pharmaceuticals (NASDAQ:MACK) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Merrimack Pharmaceuticals (NASDAQ:MACKGet Rating) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the biopharmaceutical company’s stock.

MACK stock opened at $5.49 on Friday. The firm has a market capitalization of $73.62 million, a PE ratio of -39.21 and a beta of 1.68. Merrimack Pharmaceuticals has a twelve month low of $3.66 and a twelve month high of $7.41. The stock has a 50-day simple moving average of $5.82 and a two-hundred day simple moving average of $5.26.

Merrimack Pharmaceuticals (NASDAQ:MACKGet Rating) last posted its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter.

In other news, insider Gary L. Crocker bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $6.02 per share, for a total transaction of $30,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 22,884 shares of company stock valued at $136,566 in the last three months. 23.90% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in MACK. BlackRock Inc. lifted its position in Merrimack Pharmaceuticals by 0.8% in the fourth quarter. BlackRock Inc. now owns 212,663 shares of the biopharmaceutical company’s stock valued at $832,000 after purchasing an additional 1,612 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Merrimack Pharmaceuticals by 38.8% during the third quarter. Citadel Advisors LLC now owns 10,622 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 2,970 shares during the period. Morgan Stanley increased its stake in shares of Merrimack Pharmaceuticals by 87.8% during the second quarter. Morgan Stanley now owns 11,161 shares of the biopharmaceutical company’s stock valued at $72,000 after buying an additional 5,218 shares during the period. Yakira Capital Management Inc. grew its stake 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. Finally, Radnor Capital Management LLC purchased a new stake in Merrimack Pharmaceuticals in the fourth quarter worth $52,000. Institutional investors own 55.93% of the company’s stock.

About Merrimack Pharmaceuticals (Get Rating)

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

Read More

Receive News & Ratings for Merrimack Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Merrimack Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.