5 Jul

Merck & Co.: Wall Street Analysts Are Mostly Positive in July

WRITTEN BY Daniel Collins FEATURED IN Company News, Insights, & Analysis

Recent developments

In July, Japan’s Pharmaceuticals and Medical Devices Agency (or PMDA) approved Lynparza, manufactured by AstraZeneca (AZN) and Merck & Co. (MRK), for the treatment of individuals with unresectable or recurrent BRCA[1. breast cancer]-mutated HER2[2. human epidermal growth factor receptor 2] negative breast cancer who underwent prior chemotherapy.

The approval of Lynparza by Japan’s PMDA was based on the results of the Phase 3 OlympiAD trial. AstraZeneca and Merck conducted the trial to evaluate the safety and efficacy of Lynparza compared to chemotherapy in breast cancer patients with BRCA mutations.

In the OlympiAD trial, patients receiving Lynparza showed median PFS (progression-free survival) of 7 months compared to 4.2 months for patients receiving chemotherapy.

The approval of Lynparza in the Japanese market is expected to significantly boost the drug’s revenue growth.

In June, Merck, through its Merck for Mothers initiative, presented results of the investigational heat-stable formulation of carbetocin intended for the prevention of excessive bleeding after childbirth, also termed postpartum hemorrhage.

Merck’s CHAMPION trial demonstrated clinical non-inferiority of heat-stable carbetocin compared to the standard of care, oxytocin, for the primary consequence of ≥500 ml blood loss or additional uterotonic use. To know more in detail about the CHAMPION trial, please refer to Merck’s press release.

Merck & Co.: Wall Street Analysts Are Mostly Positive in July

Analysts’ recommendations

Of the 20 analysts tracking Merck in July, five of them have recommended a “strong buy,” and ten have recommended a “buy.” Five analysts have recommended a “hold.”

On July 3, Merck had a consensus 12-month target price of $69.07, which represents a 13.77% return on investment over the next 12 months.

Peer ratings

In July, 50% of the 22 analysts tracking Johnson & Johnson (JNJ) have recommended a “buy.” Among the 22 analysts tracking Pfizer (PFE), 55% have recommended a “buy.” Of the 23 analyst tracking Amgen (AMGN), 48% have recommended a “buy.”

On July 3, Johnson & Johnson, Pfizer, and Amgen had consensus 12-month target prices of $143.57, $39.86, and $195.30, respectively. That represents 17%, 9.66%, and 5.16% returns on investment, respectively, over the next 12 months.

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