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MACK

Merrimack

$1.30

0.01 (0.78%)

06:57
08/09/17
08/09
06:57
08/09/17
06:57

Merrimack reports Q2 EPS (22c), consensus (14c)

"This quarter's progress, with key hires to the executive team and advancements in the clinic, has reinforced Merrimack's refined corporate and clinical strategy. With a rich, biomarker-driven R&D pipeline, including data expected in 2018 for each of our lead assets - MM-121, MM-141 and MM-310 - and promising preclinical programs, we are well positioned to execute on our goals," said Richard Peters, Merrimack (MACK) President and CEO. Merrimack continues to believe that its unrestricted cash and cash equivalents of $135.5 million as of June 30, 2017, together with the potential net milestone payments anticipated from Shire (SHPG), will be sufficient to fund its planned operations into the second half of 2019.

  • 09

    Aug

MACK Merrimack
$1.30

0.01 (0.78%)

08/19/16
BTIG
08/19/16
INITIATION
BTIG
Neutral
Merrimack initiated with a Neutral at BTIG
BTIG analyst Ling Wang initiated Merrimack with a Neutral as he expects shares to be range-bound given the likely slow ramp-up of ONIVYDE and data from MM-302 and MM-121 won't be available until 2017 or beyond;
10/07/16
JPMS
10/07/16
DOWNGRADE
Target $7
JPMS
Neutral
Merrimack downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Anupam Rama downgraded Merrimack Pharmaceuticals to Neutral saying the shares are likely to be range-bound after rallying 36% from the 52-week low on September 20. Key pipeline catalysts aren't likely until Q2 of 2017 and beyond while 2016 estimates are not "meaningfully beatable," Rama tells investors in a research note. He lowered his price target for the shares to $7 from $8.
11/14/16
JPMS
11/14/16
NO CHANGE
JPMS
JPMorgan says Merrimack could fit as target for Shire
JPMorgan analyst Anupam Rama believes Merrimack Pharmaceuticals (MACK) could fit as a potential target for Shire (SHPG). The $1B deal size would be manageable, Rama tells investors in a research note after Ben Harrington's Betaville blog, citing sources, reported Friday that Shire is among the companies participating in Merrimack's strategic review process. Assuming a 40% premium to the intraday Merrimack share price, the deal would be 1% accretive in 2019 and 2% accretive in 2020, Rama estimates.
01/30/17
JANY
01/30/17
NO CHANGE
Target $44
JANY
Neutral
Clovis rally has taken stock up 'too far too fast,' says Janney Capital
Janney Capital analyst Debjit Chattopadhyay noted that Clovis (CLVS) shares are up about 41% year-to-date, citing accelerated approval for its rucaparib drug in advanced ovarian cancer, the all cash acquisition of Ariad (ARIA) and the $575M divestiture with potential for further payments of Merrimack's (MACK) Onivyde franchise as among the tailwinds driving Clovis shares higher. However, a "near-term Clovis buyout may not materialize" until key competitive readouts settle the debate on the equivalency/superiority of various PARP inhibitors, Chattopadhyay tells investors. Based on near-term uncertainties, he advises waiting for a better entry point to Clovis shares, on which he has a Neutral rating and $44 fair value estimate.

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$38.21

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MKSI

MKS Instruments

$103.50

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, BRCD

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MBI

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