Analyst Rating Update on Merrimack Pharmaceuticals (MACK)

Merrimack Pharmaceuticals (NASDAQ:MACK) : The consensus on Merrimack Pharmaceuticals (NASDAQ:MACK) based on 4 analyst recommendation on the company stock is 1.5, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 2 which endorses a Buy on the stock. However, 3 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 1 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

Merrimack Pharmaceuticals (NASDAQ:MACK) : Currently there are 2 street experts covering Merrimack Pharmaceuticals (NASDAQ:MACK) stock. The most bullish and bearish price target for the stock is $16 and $8 respectively for the short term. The average price target of all the analysts comes to $12. The estimated standard deviation from the target is $5.66.

For the current week, the company shares have a recommendation consensus of Buy. Also, Baird initiates coverage on Merrimack Pharmaceuticals (NASDAQ:MACK) The shares have been rated Neutral. The rating by the firm was issued on May 26, 2016.

Merrimack Pharmaceuticals (NASDAQ:MACK): stock turned positive on Tuesday. Though the stock opened at $5.38, the bulls momentum made the stock top out at $5.62 level for the day. The stock recorded a low of $5.37 and closed the trading day at $5.53, in the green by 4.54%. The total traded volume for the day was 2,006,030. The stock had closed at $5.29 in the previous days trading.

In an insider trading activity, Porter Michael E, director of Merrimack Pharmaceuticals Inc had purchased 5,000 shares on March 17, 2016 in a transaction. The price per share was $7.2 and the total amount of the disclosed transaction was $36,000.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Merrimack Pharmaceuticals, Inc. is a biopharmaceutical company discovering, developing and preparing to commercialize medicines consisting of therapeutics paired with companion diagnostics for the treatment of cancer. The Company has six targeted therapeutic oncology candidates in clinical development (MM-398, MM-302, MM-121, MM-111, MM-151 and MM-141). The Companys most advanced program is its investigational agent MM-398. The Company also has multiple product candidates in preclinical development and a discovery effort advancing additional candidate medicines. The Company has an agreement to utilize its manufacturing know-how to develop, manufacture and exclusively supply bulk drug to a third party, who processes the drug into a finished product and commercializes it globally. The Company is also developing in vitro and in vivo companion diagnostics for use with each of its oncology therapeutic product candidates.

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