$MACK,,,what can I say,,this stock has been thrown
Post# of 22756
(Total Views: 251)
Posted On: 06/04/2017 3:37:52 PM
$MACK,,,what can I say,,this stock has been thrown down, stomped on, tossed off a cliff, stabbed and shot lately. It missed its estimated earnings number, and is only 6 pennies from its 52 week low, closing Friday @ $1.52 then gaining $.02 in the AH market.
Why Keep your Eyes on this?
Its oversold (on all the indicators) and the negative volume is leaving. There was some good buys seen at the end of the day on Friday and I think we should keep our eyes on this stock as institutional Investors have increased holdings since the 1st of the year, the COMPANY (for some reason) paid a dividend a few weeks ago. Of the 8 Analysts covering this company, one says sell, five say hold, one says buy and one says it's a strong by. This is a consensus hold rating with a consensus price target of $8.27. With the .02 increase in Friday's AH, its now sitting on the 30 day SMA.
Merrimack Pharmaceuticals Inc logoZacks Investment Research upgraded shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) from a sell rating to a hold rating in a research note issued to investors on Monday, May 15th.
According to Zacks, “Merrimack reported a wider-than-expected loss in the quarter and generated no revenue as it sold Onivyde to Ipsen. With the sale of Onivyde, the company is back to being a development-stage biopharmaceutical company. Thus, the successful development of the three lead candidates in its pipeline is critical for Merrimack’s growth. Moreover, two of the candidates, MM-121 and MM-141, are still being evaluated in phase II studies. And the third candidate, MM-310 entered phase I study in the first quarter of 2017. Also, shares of the company have underperformed the Zacks categorized Medical Biomed/Genetics industry year to date. However, the cash received from Ipsen will be used to pay down the huge debt and return value to shareholders in the form of dividends.”
Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 1.52 on Monday. The stock’s market capitalization is $201.29 million. Merrimack Pharmaceuticals has a 12 month low of $1.48 and a 12 month high of $7.14. The company has a 50-day moving average of $3.25 and a 200 day moving average of $3.73.
Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.15. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities research analysts anticipate that Merrimack Pharmaceuticals will post ($0.57) earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which was paid on Friday, May 26th. Investors of record on Wednesday, May 17th were given a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, May 30th.
A number of institutional investors have recently bought and sold shares of MACK. Stonebridge Capital Management Inc. purchased a new position in Merrimack Pharmaceuticals during the first quarter worth $112,000. Tudor Investment Corp Et Al bought a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at approximately $184,000. KCG Holdings Inc. raised its stake in shares of Merrimack Pharmaceuticals by 125.6% in the first quarter. KCG Holdings Inc. now owns 60,785 shares of the biopharmaceutical company’s stock valued at $187,000 after buying an additional 33,847 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at approximately $200,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Merrimack Pharmaceuticals by 71.7% in the first quarter. UBS Asset Management Americas Inc. now owns 72,279 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 30,182 shares during the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.
About Merrimack Pharmaceuticals
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.
Why Keep your Eyes on this?
Its oversold (on all the indicators) and the negative volume is leaving. There was some good buys seen at the end of the day on Friday and I think we should keep our eyes on this stock as institutional Investors have increased holdings since the 1st of the year, the COMPANY (for some reason) paid a dividend a few weeks ago. Of the 8 Analysts covering this company, one says sell, five say hold, one says buy and one says it's a strong by. This is a consensus hold rating with a consensus price target of $8.27. With the .02 increase in Friday's AH, its now sitting on the 30 day SMA.
Merrimack Pharmaceuticals Inc logoZacks Investment Research upgraded shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) from a sell rating to a hold rating in a research note issued to investors on Monday, May 15th.
According to Zacks, “Merrimack reported a wider-than-expected loss in the quarter and generated no revenue as it sold Onivyde to Ipsen. With the sale of Onivyde, the company is back to being a development-stage biopharmaceutical company. Thus, the successful development of the three lead candidates in its pipeline is critical for Merrimack’s growth. Moreover, two of the candidates, MM-121 and MM-141, are still being evaluated in phase II studies. And the third candidate, MM-310 entered phase I study in the first quarter of 2017. Also, shares of the company have underperformed the Zacks categorized Medical Biomed/Genetics industry year to date. However, the cash received from Ipsen will be used to pay down the huge debt and return value to shareholders in the form of dividends.”
Merrimack Pharmaceuticals (NASDAQ:MACK) opened at 1.52 on Monday. The stock’s market capitalization is $201.29 million. Merrimack Pharmaceuticals has a 12 month low of $1.48 and a 12 month high of $7.14. The company has a 50-day moving average of $3.25 and a 200 day moving average of $3.73.
Merrimack Pharmaceuticals (NASDAQ:MACK) last announced its earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.15. During the same period in the prior year, the firm earned ($0.33) EPS. On average, equities research analysts anticipate that Merrimack Pharmaceuticals will post ($0.57) earnings per share for the current fiscal year.
The company also recently disclosed an annual dividend, which was paid on Friday, May 26th. Investors of record on Wednesday, May 17th were given a $1.06 dividend. The ex-dividend date of this dividend was Tuesday, May 30th.
A number of institutional investors have recently bought and sold shares of MACK. Stonebridge Capital Management Inc. purchased a new position in Merrimack Pharmaceuticals during the first quarter worth $112,000. Tudor Investment Corp Et Al bought a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at approximately $184,000. KCG Holdings Inc. raised its stake in shares of Merrimack Pharmaceuticals by 125.6% in the first quarter. KCG Holdings Inc. now owns 60,785 shares of the biopharmaceutical company’s stock valued at $187,000 after buying an additional 33,847 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Merrimack Pharmaceuticals during the fourth quarter valued at approximately $200,000. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Merrimack Pharmaceuticals by 71.7% in the first quarter. UBS Asset Management Americas Inc. now owns 72,279 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 30,182 shares during the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.
About Merrimack Pharmaceuticals
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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