Merck target upped at Jefferies after ‘important win’ with subcutaneous Keytruda

Jefferies raised the firm’s price target on Merck (MRK) to $149 from $148 and keeps a Buy rating on the shares after subcutaneous administration of pembrolizumab, Merck’s anti-PD-1 therapy available for intravenous use as Keytruda, hit both primary endpoints in the pivotal Phase 3 MK-3475A-D77 trial. This is “an important win,” as Merck should be able to bridge approval for all IV solid tumor indications in U.S. with this data, the analyst tells investors.