BlackRock, Inc recently disclosed that they own a 7.6% stake in Merrimack Pharmaceuticals Inc (NASDAQ:MACK) in a Schedule 13G/A disclosure that was filed with the SEC on Tuesday, January 26th. The investor owns 8,823,237 shares of the stock valued at about $56,645,182. The filing is available through Edgar at this link.

Separately, DekaBank Deutsche Girozentrale boosted its stake in shares of Merrimack Pharmaceuticals by 1.8% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 56,500 shares of the biopharmaceutical company’s stock worth $457,000 after buying an additional 1,000 shares during the period.

Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK) traded up 2.23% on Tuesday, hitting $6.42. 1,389,644 shares of the stock traded hands. Merrimack Pharmaceuticals Inc has a 52-week low of $5.65 and a 52-week high of $13.84. The stock’s 50 day moving average price is $7.33 and its 200 day moving average price is $9.18. The stock’s market cap is $741.99 million.

Merrimack Pharmaceuticals (NASDAQ:MACK) last released its earnings results on Monday, November 9th. The biopharmaceutical company reported ($0.38) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. The firm earned $16.44 million during the quarter, compared to the consensus estimate of $14.04 million. The business’s revenue was down 41.3% on a year-over-year basis. On average, equities analysts expect that Merrimack Pharmaceuticals Inc will post ($1.12) EPS for the current fiscal year.

A number of equities research analysts have weighed in on MACK shares. Brean Capital restated a “buy” rating and issued a $16.00 price objective on shares of Merrimack Pharmaceuticals in a report on Friday, October 23rd. Mizuho restated a “buy” rating and issued a $16.00 price objective on shares of Merrimack Pharmaceuticals in a report on Thursday, October 22nd. Oppenheimer restated a “buy” rating on shares of Merrimack Pharmaceuticals in a report on Wednesday, December 30th. Finally, Zacks Investment Research upgraded shares of Merrimack Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, January 21st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $15.00.

In other news, insider Edward J. Stewart sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, January 5th. The shares were sold at an average price of $8.00, for a total value of $32,000.00. Following the completion of the sale, the insider now owns 21,385 shares in the company, valued at approximately $171,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 (NASDAQ:MACK). The Company’s 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.

12 Month Chart for NASDAQ:MACK

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