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Merrimack Pharmaceuticals (MACK) Crumbles: Stock Tanks by 11.3%

Zacks Equity Research

Merrimack Pharmaceuticals, Inc. (MACK) saw a big move last session, as the company’s shares fell more than 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for MACK, as the stock is now down 13.6% since May 29, 2014.

The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

MACK currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the health care sector include Actelion Ltd. (ALIOF), ANI Pharmaceuticals, Inc. (ANIP) and Gilead Sciences Inc. (GILD). All these stocks carry a Zacks Rank #1 (Strong Buy).

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