The stock price of Merrimack Pharmaceuticals Inc (NASDAQ: MACK) has surged by 0.27 when compared to previous closing price of 15.03, but the company has seen a 0.27% gain in its stock price over the last five trading sessions. Seeking Alpha reported 2023-01-04 that In December 2022, MACK got positive clinical results for its Phase III clinical trial of Onivyde in first line pancreatic cancer. A $225m milestone from Ipsen will be triggered on approval, which corresponds to about $16.75 per basic share.
Is It Worth Investing in Merrimack Pharmaceuticals Inc (NASDAQ: MACK) Right Now?
The 36-month beta value for MACK is also noteworthy at 1.41. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
The public float for MACK is 14.36M, and at present, short sellers hold a 5.68% of that float. The average trading volume of MACK on May 10, 2024 was 145.85K shares.
MACK’s Market Performance
The stock of Merrimack Pharmaceuticals Inc (MACK) has seen a 0.27% increase in the past week, with a 2.38% rise in the past month, and a 10.65% gain in the past quarter. The volatility ratio for the week is 0.31%, and the volatility levels for the past 30 days are at 0.35% for MACK. The simple moving average for the past 20 days is 1.81% for MACK’s stock, with a 13.63% simple moving average for the past 200 days.
Analysts’ Opinion of MACK
Robert W. Baird, on the other hand, stated in their research note that they expect to see MACK reach a price target of $8. The rating they have provided for MACK stocks is “Neutral” according to the report published on May 27th, 2016.
Mizuho gave a rating of “Buy” to MACK, setting the target price at $13 in the report published on December 23rd of the previous year.
MACK Trading at 2.18% from the 50-Day Moving Average
After a stumble in the market that brought MACK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.16% of loss for the given period.
Volatility was left at 0.35%, however, over the last 30 days, the volatility rate increased by 0.31%, as shares surge +2.31% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +2.52% upper at present.
During the last 5 trading sessions, MACK rose by +0.27%, which changed the moving average for the period of 200-days by +25.37% in comparison to the 20-day moving average, which settled at $14.82. In addition, Merrimack Pharmaceuticals Inc saw 12.38% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at MACK starting from Andersen Eric, who purchase 857 shares at the price of $13.35 back on Dec 28 ’23. After this action, Andersen Eric now owns 534,008 shares of Merrimack Pharmaceuticals Inc, valued at $11,441 using the latest closing price.
Andersen Eric, the Director of Merrimack Pharmaceuticals Inc, purchase 48,693 shares at $13.15 during a trade that took place back on Dec 26 ’23, which means that Andersen Eric is holding 533,151 shares at $640,313 based on the most recent closing price.
Stock Fundamentals for MACK
The total capital return value is set at -0.11. Equity return is now at value -6.22, with -6.05 for asset returns.
Currently, EBITDA for the company is -2.18 million with net debt to EBITDA at 2.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 43.50.
Conclusion
In summary, Merrimack Pharmaceuticals Inc (MACK) has had a better performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
