Company Update (NASDAQ:MACK): Merrimack Pharmaceuticals Inc Reports First Quarter 2016 Financial Results
Merrimack Pharmaceuticals, Inc. (Nasdaq:MACK) today announced its first quarter 2016 financial results. Merrimack will host a live conference call and webcast today, Monday, May 2 at 4:30 p.m., Eastern time, to provide an update on Merrimack’s progress as well as a summary of these results… (Original Source)
Shares of Merrimack Pharmaceuticals Inc. opened today at $7.08, up $0.15 or -2.10%. MACK has a 1-year high of $13.26 and a 1-year low of $5.02. The stock’s 50-day moving average is $7.96 and its 200-day moving average is $7.74.
On the ratings front, Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) has been the subject of a number of recent research reports. In a report issued on April 15, Cowen analyst Eric Schmidt maintained a Buy rating on MACK. Separately, on February 26, Brean Murray Carret’s Jonathan Aschoff reiterated a Buy rating on the stock and has a price target of $16.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Eric Schmidt and Jonathan Aschoff have a total average return of 12.5% and -9.7% respectively. Schmidt has a success rate of 43.1% and is ranked #236 out of 3832 analysts, while Aschoff has a success rate of 36.9% and is ranked #3796.
Merrimack Pharmaceuticals, Inc. engages in discovering, developing and preparing to commercialize innovative medicines consisting of novel therapeutics paired with diagnostics for the treatment of cancer. Its offers its first commercial product, Onivyde, which is a novel encapsulation of the marketed chemotherapy drug irinotecan in liposomal formulation. The company was founded by Anthony J. Sinskey, Gavin MacBeath and Ulrik B. Nielsen in 1993 and is headquartered in Cambridge, MA.