Merrimack Pharmaceuticals, Inc. MACK was a big mover last session, as its shares rose almost 13% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This also led to far more shares changing hands than in a normal session. Yesterday’s rally breaks the trend of the company, as the stock is now trading above the volatile trend of $5.27 to $6.41 in the past one-month time frame.
Over the last 30 days, the company did not witness any estimate revision while the Zacks Consensus Estimate moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.
Merrimack Pharmaceuticals currently has a Zacks Rank #3 (Hold).
A better-ranked biomedical stock is Anika Therapeutics Inc. ANIK with a Zacks Rank #1 (Strong Buy).
Is MACK going up? Or down? Predict to see what others think: Up or Down
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