Nico Chen, an analyst from DBS, maintained the Buy rating on Merck & Company (MRK – Research Report). The associated price target is $100.00.
Nico Chen has given his Buy rating due to a combination of factors that highlight Merck & Company’s strong market position and growth potential. A significant driver of this positive outlook is Keytruda, Merck’s blockbuster drug, which has established the company as a leader in oncology. Keytruda’s sales have grown remarkably, contributing significantly to Merck’s revenue, and it continues to expand its presence in global markets.
Another key factor is the promising development of sac-TMT, an antibody-drug conjugate for treating advanced non-small cell lung cancer, which has received Breakthrough Therapy Designation from the US FDA. This designation could expedite its market entry and enhance Merck’s share price. Additionally, Merck’s financial outlook is robust, with an expected acceleration in net income growth and a relatively low risk of patent expiries compared to industry peers. These elements combined form the basis for the Buy rating, with a target price set at USD 100.
According to TipRanks, Chen is a 3-star analyst with an average return of 3.6% and a 54.05% success rate. Chen covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Wuxi Biologics (Cayman), and AptarGroup.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $138.00 price target.