Merrimack Pharmaceuticals (MACK) : 4 analysts are covering Merrimack Pharmaceuticals (MACK) and their average rating on the stock is 2, which is read as a Buy. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 4, which recommends a Sell affirms that they expect a large upside in the stock from the current levels. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Merrimack Pharmaceuticals (MACK) : The most positive equity analysts on Merrimack Pharmaceuticals (MACK) expects the shares to touch $16, whereas, the least positive believes that the stock will trade at $7 in the short term. The company is covered by 3 Wall Street Brokerage Firms. The average price target for shares are $10.33 with an expected fluctuation of $4.93 from the mean.
For the current week, the company shares have a recommendation consensus of Buy. Merrimack Pharmaceuticals (NASDAQ:MACK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.07 and $5.05 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.16, notching a gain of 1.57% for the day. The total traded volume was 1,783,656 . The stock had closed at $5.08 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Schoeberl Birgit M., officer (Head of Discovery) of Merrimack Pharmaceuticals Inc, had unloaded 50,000 shares at an average price of $5.5 in a transaction dated on July 25, 2016. The total value of the transaction was worth $275,000.
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.