Price Target Update on Merrimack Pharmaceuticals (NASDAQ:MACK)

Merrimack Pharmaceuticals (NASDAQ:MACK) : The consensus price target for Merrimack Pharmaceuticals (NASDAQ:MACK) is $12 for the short term with a standard deviation of $5.66. The most optimist securities analyst among the 2 who monitor the stock believes that the stock can reach $16, however, the pessimist price target for the company is $8.

Other Equity analysts have also commented on the company shares. Baird initiates coverage on Merrimack Pharmaceuticals (NASDAQ:MACK). The current rating of the shares is Neutral, according to the research report released by the firm. The rating by the firm was issued on May 26, 2016.

Merrimack Pharmaceuticals (NASDAQ:MACK): On Thursdays trading session , Opening price of the stock was $6.3 with an intraday high of $6.37. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $6.03. However, the stock managed to close at $6.12, a loss of 1.29% for the day. On the previous day, the stock had closed at $6.2. The total traded volume of the day was 3,089,606 shares.

The company shares have dropped -50.16% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $13.00 and the one year low was seen on Feb 24, 2016. The 50-Day Moving Average price is $6.53 and the 200 Day Moving Average price is recorded at $7.00. On the companys insider trading activities, Porter Michael E, director of Merrimack Pharmaceuticals Inc, executed a transaction worth $36,000 on March 17, 2016. A total of 5,000 shares were purchased at an average price of $7.2. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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 (MM-398, MM-302, MM-121, MM-111, MM-151 and MM-141). The Companys 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.

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