Vetr Upgrades Merrimack Following Earnings, Licensing Rumors
The Vetr crowd upgraded their rating for Merrimack Pharmaceuticals Inc (NASDAQ: MACK) from the previous rating of 2 stars (Sell), issued 20 days ago, to 5 stars (Strong Buy). Sentiment in the stock among the crowd is still middling, with 57 percent of Vetr user ratings bullish.
Interest in Merrimack jumped earlier this month upon rumors that the company was working with investment banks on the possibility of licensing its cancer treatment drug to larger biopharmaceutical companies. Shares of Merrimack traded recently around $6.03, about 10.7 percent lower from where it was at its post-rumor high of $6.75 on November 14.
The crowd's target price for Merrimack is at $10.86, which is just below the average analyst target price of $11.00. Less than 2 percent of Vetr users are holding MACK in their watch lists.
Latest Ratings for MACK
|Oct 2016||JP Morgan||Downgrades||Overweight||Neutral|
|Aug 2016||BTIG Research||Initiates Coverage on||Neutral|
|Aug 2016||JP Morgan||Maintains||Overweight|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.