Equities analysts predict that Merrimack Pharmaceuticals Inc (NASDAQ:MACK) will post ($1.01) earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Merrimack Pharmaceuticals’ earnings. Merrimack Pharmaceuticals posted earnings per share of ($0.89) in the same quarter last year, which would suggest a negative year over year growth rate of 13.5%. The firm is expected to issue its next quarterly earnings results on Monday, March 11th.
On average, analysts expect that Merrimack Pharmaceuticals will report full-year earnings of ($4.60) per share for the current year. For the next year, analysts forecast that the business will report earnings of ($2.88) per share, with EPS estimates ranging from ($3.59) to ($2.16). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Merrimack Pharmaceuticals.
Merrimack Pharmaceuticals (NASDAQ:MACK) last posted its quarterly earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.92) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.65).
Several brokerages have recently issued reports on MACK. ValuEngine upgraded shares of Merrimack Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Cowen restated a “hold” rating on shares of Merrimack Pharmaceuticals in a research report on Wednesday, November 7th. Zacks Investment Research raised shares of Merrimack Pharmaceuticals from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Wednesday, October 24th. Finally, Robert W. Baird set a $4.00 price target on shares of Merrimack Pharmaceuticals and gave the company a “hold” rating in a research note on Saturday, October 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $4.38.
A number of institutional investors have recently made changes to their positions in MACK. Newtyn Management LLC increased its holdings in shares of Merrimack Pharmaceuticals by 349.6% in the 2nd quarter. Newtyn Management LLC now owns 633,297 shares of the biopharmaceutical company’s stock valued at $3,109,000 after purchasing an additional 492,440 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Merrimack Pharmaceuticals by 22.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 573,514 shares of the biopharmaceutical company’s stock worth $3,057,000 after purchasing an additional 105,137 shares during the last quarter. Rubric Capital Management LP boosted its stake in shares of Merrimack Pharmaceuticals by 16.4% during the 3rd quarter. Rubric Capital Management LP now owns 554,338 shares of the biopharmaceutical company’s stock worth $2,955,000 after purchasing an additional 78,174 shares during the last quarter. Clearline Capital LP boosted its position in shares of Merrimack Pharmaceuticals by 440.8% in the third quarter. Clearline Capital LP now owns 320,855 shares of the biopharmaceutical company’s stock worth $1,710,000 after acquiring an additional 261,524 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Merrimack Pharmaceuticals by 22.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 174,774 shares of the biopharmaceutical company’s stock worth $858,000 after acquiring an additional 31,509 shares during the last quarter. Institutional investors own 47.06% of the company’s stock.
MACK stock opened at $4.20 on Friday. The firm has a market cap of $58.97 million, a P/E ratio of -0.74 and a beta of 2.40. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.22. Merrimack Pharmaceuticals has a one year low of $3.34 and a one year high of $11.70.
About Merrimack Pharmaceuticals
Merrimack Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on biomarker-defined cancers in the United States. The company's clinical programs include MM-121, which is in Phase II clinical trial for the treatment of patients with heregulin positive non-small cell lung cancer; and MM-141, a human tetravalent bispecific antibody that is in Phase II clinical trial for treating patients with metastatic pancreatic cancer with high serum levels of free insulin-like growth factor 1.
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