Merrimack Pharmaceuticals (MACK) : Analyst Rating Update

Merrimack Pharmaceuticals (MACK) : 4 analysts are covering Merrimack Pharmaceuticals (MACK) and their average rating on the stock is 1.5, which is read as a Strong Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 2, which recommends a Buy affirms that they expect a large upside in the stock from the current levels. A total of 1 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Merrimack Pharmaceuticals (MACK) : The consensus price target for Merrimack Pharmaceuticals (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.

Merrimack Pharmaceuticals (NASDAQ:MACK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $5.58 and $5.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $5.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $5.70, notching a gain of 4.40% for the day. The total traded volume was 1,661,835 . The stock had closed at $5.46 on the previous day.

Also, Baird initiates coverage on Merrimack Pharmaceuticals (NASDAQ:MACK). The rating major has initiated the coverage with neutral rating on the shares. The rating by the firm was issued on May 26, 2016. The company shares have dropped -53.21% from its 1 Year high price. On Jul 13, 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 $6.32 and the 200 Day Moving Average price is recorded at $6.84.

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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