Oppenheimer Starts Merrimack Pharmaceuticals (MACK) at Outperform, $12 Target
Tweet
Share
E-mail
Get Alerts MACK Hot Sheet
Price: $15.13 --0%
Rating Summary:
5 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Oppenheimer initiates coverage on Merrimack Pharmaceuticals (NASDAQ: MACK) with a Outperform rating and $12 price target.
The firm comments, "With a novel network biology platform, MACK has developed a broad pipeline of antibody-based and nanotherapeutic cancer therapies. We view MM-121, an ErbB3 antibody, as the most promising. We believe ErbB3 inhibition has applicability in several cancers, and MACK, with partner Sanofi, is evaluating MM-121 in a comprehensive ph.II program. MM-398, a liposomal irinotecan, has shown strong ph.II pancreatic cancer results, and we see a good probability of ph.III success, mid-'13. Additionally, MACK's earlier antibody-based candidates, MM-111/MM-302/MM-151, address blockbuster markets. We believe MACK is an attractive long-term value based on the company's pipeline/platform, and we would position in the stock, a March 2012 IPO, ahead of key '121/'398 data in '13."
For an analyst ratings summary and ratings history on Merrimack Pharmaceuticals click here. For more ratings news on Merrimack Pharmaceuticals click here.
Shares of Merrimack Pharmaceuticals closed at $7.50 yesterday.
The firm comments, "With a novel network biology platform, MACK has developed a broad pipeline of antibody-based and nanotherapeutic cancer therapies. We view MM-121, an ErbB3 antibody, as the most promising. We believe ErbB3 inhibition has applicability in several cancers, and MACK, with partner Sanofi, is evaluating MM-121 in a comprehensive ph.II program. MM-398, a liposomal irinotecan, has shown strong ph.II pancreatic cancer results, and we see a good probability of ph.III success, mid-'13. Additionally, MACK's earlier antibody-based candidates, MM-111/MM-302/MM-151, address blockbuster markets. We believe MACK is an attractive long-term value based on the company's pipeline/platform, and we would position in the stock, a March 2012 IPO, ahead of key '121/'398 data in '13."
For an analyst ratings summary and ratings history on Merrimack Pharmaceuticals click here. For more ratings news on Merrimack Pharmaceuticals click here.
Shares of Merrimack Pharmaceuticals closed at $7.50 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICICI Securities Resumes Oberoi Realty Ltd (OBER:IN) at Buy (1)
- Leerink Starts Freenome Inc. (FRNM) at Outperform
- Seaport Global Securities Starts ADI Global Distribution (ADIG) at Buy
Create E-mail Alert Related Categories
New CoverageSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
