ValuEngine lowered shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) from a sell rating to a strong sell rating in a research report released on Monday morning.

Separately, Zacks Investment Research cut Merrimack Pharmaceuticals from a hold rating to a sell rating in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. Merrimack Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $76.20.

Merrimack Pharmaceuticals (NASDAQ:MACK) traded down 2.78% during trading on Monday, hitting $14.67. 88,553 shares of the stock traded hands. Merrimack Pharmaceuticals has a 52 week low of $11.30 and a 52 week high of $67.90. The stock’s market cap is $191.55 million. The firm’s 50-day moving average is $13.68 and its 200 day moving average is $20.35.

Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.37) by ($0.81). During the same period in the previous year, the company earned ($4.00) earnings per share. Equities research analysts forecast that Merrimack Pharmaceuticals will post $33.49 earnings per share for the current fiscal year.

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In other news, Director Ulrik B. Nielsen sold 7,896 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $14.23, for a total transaction of $112,360.08. Following the completion of the transaction, the director now directly owns 22,781 shares in the company, valued at approximately $324,173.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ulrik B. Nielsen sold 14,756 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $14.46, for a total value of $213,371.76. Following the transaction, the director now owns 37,437 shares of the company’s stock, valued at $541,339.02. The disclosure for this sale can be found here. Insiders have sold a total of 44,308 shares of company stock valued at $637,558 over the last 90 days. Corporate insiders own 8.53% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Merrimack Pharmaceuticals by 4.4% during the 1st quarter. Geode Capital Management LLC now owns 999,734 shares of the biopharmaceutical company’s stock worth $3,079,000 after buying an additional 42,194 shares during the period. Yakira Capital Management Inc. acquired a new position in shares of Merrimack Pharmaceuticals during the 1st quarter worth about $765,000. Bank of New York Mellon Corp grew its position in shares of Merrimack Pharmaceuticals by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 728,210 shares of the biopharmaceutical company’s stock worth $2,243,000 after buying an additional 13,664 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Merrimack Pharmaceuticals by 5.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 438,888 shares of the biopharmaceutical company’s stock worth $1,352,000 after buying an additional 22,401 shares during the period. Finally, American International Group Inc. grew its position in shares of Merrimack Pharmaceuticals by 7.1% during the 1st quarter. American International Group Inc. now owns 75,158 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 4,975 shares during the period.

Merrimack Pharmaceuticals Company Profile

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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