Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) today announced the resignation of Dr. Yasir Al-Wakeel as Chief Financial Officer and Head of Corporate Development, effective June 9, 2017. Dr. Al-Wakeel, who has been in his role with Merrimack since August 2015, is leaving to pursue other business interests. Merrimack has initiated a search to appoint a new chief financial officer.
Shares of Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) last traded at $1.63. The firm’s performance so far in this year is -41.27%. The 200-day simple moving average is -43.43%. It is considered a key indicator by market analysts and traders for determining the long-term trend. The price mark in a market that coincides with it is recognized as a key support when price moves above the 200-day SMA or resistance when stock price is below this level.
As per recent filings, Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) has an insider ownership of 0.60%.
Merrimack Pharmaceuticals, Inc., is a biopharmaceutical company focused on the discovery, development and preparation to commercialize innovative medicines paired with companion diagnostics for the treatment of serious diseases, with a special focus on cancer. Merrimack Pharmaceuticals, Inc. is headquartered in Cambridge, Massachusetts.
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) has been storming Wall Street with promising press release. Recently, the firm reported that according to the March 2017 analysis commissioned by RetailMeNot and performed by Forrester Consulting, the firm’s mobile marketing solutions result in a 3-year, risk-adjusted ROI of 4.3x.
The Barchart Technical Opinion rating is a 56% Sell with a Strengthening short term outlook on maintaining the current direction. Longer term, the trend strength is Maximum. Long term indicators mostly agree with the trend. The market is in highly oversold territory. Beware of a trend reversal.
The Exponential Moving Average is a tool same as a simple moving average, with the only difference being a weighting factor used by EMA that exponentially declines from the recent data point. EMA analysis checks the averages for different period, including short term that is 5 days and 13 days, intermediate term for 20 days and long term of 50 days EMA. The bullish signals are received when they trade above trailing EMAs and below the prevailing price and vice versa. EMA signals include crossovers and EMA convergences The 5 day EMA 2.31 is higher than the last trade price suggesting a short term bearish pattern building up. Long term, the 50 day EMA 3.19 is also higher than the current trading price depicting a bearish trend overall..
The relative strength index can be marked as a momentum oscillator that is able to read the velocity and magnitude of equity price changes. The current RSI is 14.99 suggesting a bearish price action.
Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) is all set to post its earnings on May 10/b. As per Zack’s analyst ratings, Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) presently has an average brokerage rating of 3. On a scale of 1 – 5, a rating of 2 or 1 would indicate a buy, and a 4 or 5 rating would signify a sell while a rating of 3 indicates a hold. The consensus target price on (NASDAQ:MACK) is $3 with a high of $3 and a low of $3.
As such, while we consider Merrimack Pharmaceuticals, Inc. (NASDAQ:MACK) represents a convincing growth story exposed to different attractive markets, it would be enticing to see what it brings for long-term investors.