Merrimack Pharmaceuticals Inc. [MACK] Stock trading around $12.51 per share: What’s Next?

Merrimack Pharmaceuticals Inc. [NASDAQ: MACK] gained 212.75% or 8.51 points to close at $12.51 with a heavy trading volume of 34223684 shares. The company report on November 3, 2022 that Merrimack Reports Third Quarter 2022 Financial Results.


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Merrimack Pharmaceuticals, Inc. (Nasdaq: MACK) [(“Merrimack” or the “Company”)] today announced its third quarter 2022 financial results for the period ended September 30, 2022.

“During the third quarter we continued to see the benefits of reduced operating expenses,” said Gary Crocker, Chairman of Merrimack’s Board of Directors. “We will continue to monitor developments in Ipsen’s Onivyde® (irinotecan liposomal injection) program and Elevation’s seribantumab program.”.

It opened the trading session at $12.63, the shares rose to $13.66 and dropped to $11.1901, the range by which the price of stock traded the whole day. The daily chart for MACK points out that the company has recorded 155.83% gains over the past six months. However, it is still -317.0% lower than its most recent low trading price.

If we look at the average trading volume of 24.82K shares, MACK reached to a volume of 34223684 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Merrimack Pharmaceuticals Inc. [MACK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MACK shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MACK stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Merrimack Pharmaceuticals Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 07, 2016. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Neutral. The new note on the price target was released on May 27, 2016, representing the official price target for Merrimack Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $16 to $13, while Mizuho kept a Buy rating on MACK stock. On October 27, 2015, analysts increased their price target for MACK shares from 13 to 15.

The Average True Range (ATR) for Merrimack Pharmaceuticals Inc. is set at 1.00 The Price to Book ratio for the last quarter was 12.26, with the Price to Cash per share for the same quarter was set at 1.01.

Trading performance analysis for MACK stock

Merrimack Pharmaceuticals Inc. [MACK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 228.35. With this latest performance, MACK shares gained by 302.25% in over the last four-week period, additionally plugging by 155.83% over the last 6 months – not to mention a rise of 171.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MACK stock in for the last two-week period is set at 89.08, with the RSI for the last a single of trading hit 92.29, and the three-weeks RSI is set at 85.99 for Merrimack Pharmaceuticals Inc. [MACK]. The present Moving Average for the last 50 days of trading for this stock 4.05, while it was recorded at 5.66 for the last single week of trading, and 5.19 for the last 200 days.

Merrimack Pharmaceuticals Inc. [MACK]: A deeper dive into fundamental analysis

Merrimack Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 31.80 and a Current Ratio set at 31.80.

Merrimack Pharmaceuticals Inc. [MACK]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MACK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Merrimack Pharmaceuticals Inc. go to 5.60%.

An analysis of insider ownership at Merrimack Pharmaceuticals Inc. [MACK]

There are presently around $93 million, or 69.60% of MACK stock, in the hands of institutional investors. The top three institutional holders of MACK stocks are: NEWTYN MANAGEMENT, LLC with ownership of 1,758,005, which is approximately 2.591% of the company’s market cap and around 1.09% of the total institutional ownership; WESTERN STANDARD LLC, holding 1,269,558 shares of the stock with an approximate value of $15.88 million in MACK stocks shares; and 22NW, LP, currently with $15.54 million in MACK stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Merrimack Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 12 institutional holders increased their position in Merrimack Pharmaceuticals Inc. [NASDAQ:MACK] by around 223,167 shares. Additionally, 15 investors decreased positions by around 687,584 shares, while 17 investors held positions by with 6,541,384 shares. The mentioned changes placed institutional holdings at 7,452,135 shares, according to the latest SEC report filing. MACK stock had 3 new institutional investments in for a total of 50,405 shares, while 2 institutional investors sold positions of 580,513 shares during the same period.

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