Merck Stock (MRK) Slips Despite Positive Clinical Trials Results

Merck (MRK) stock was on the move Monday after the healthcare company announced positive results from two Phase 3 clinical trials. These studies saw meaningful reductions in LDL-C from patients with hyperlipidemia on lipid-lowering therapies who were treated with the investigational drug enlicitide decanoate.

Dr. Dean Y. Li, President of Merck Research Laboratories, said, “We are thrilled to bring forward the first Phase 3 results from our clinical development program evaluating enlicitide, which, if approved, would be the first marketed oral PCSK9 inhibitor in the U.S.”

While the studies of enlicitide decanoate met all primary and key secondary endpoints, Merck intends to continue investigating the drug. That includes a series of studies with up to 17,000 patients to determine the efficacy and safety of the treatment. If all goes well in these trials, the company will likely submit the drug to the Food and Drug Administration for commercial approval.

Merck Stock Analyst Coverage

In other news, the latest coverage of Merck stock comes from four-star Bank of America Securities analyst Tim Anderson. He reiterated a Buy rating and $99 price target on Friday, suggesting a 25.28% upside for the shares.

MRK stock was down 0.08% on Monday despite its positive clinical trial data. This extends the stock’s 19.99% year-to-date drop and 39.94% 12-month fall. While MRK shares climbed in pre-market trading, they couldn’t hold onto those gains after the opening bell.

Is Merck Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Merck is Moderate Buy, based on 10 Buy and seven Hold ratings over the past three months. With that comes an average MRK stock price target of $100.73, representing a potential 27.55% upside for the shares.

See more MRK stock analyst ratings