Cautious Optimism for Merck’s Oral PCSK9 Program Amid Keytruda’s Exclusivity Challenges

Merck & Company (MRK – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Geoff Meacham from Citi maintained a Hold rating on the stock and has a $84.00 price target.

Geoff Meacham’s rating is based on the potential of Merck’s oral PCSK9 program, particularly the enlicitide product, which shows promise in addressing the unmet needs of patients with hypercholesterolemia. The discussions with Key Opinion Leaders (KOLs) highlighted the advantages of an oral PCSK9 product in terms of accessibility and ease of use, which could make it a preferable option over existing injectable treatments. However, despite the positive outlook for enlicitide, its anticipated approval in 2027 does not seem sufficient to counterbalance the looming loss of exclusivity for Keytruda, Merck’s flagship product.
Another factor influencing the Hold rating is the emphasis on safety and tolerability, which are crucial for the broader adoption of enlicitide if it gets approved. While the market opportunity for an oral PCSK9 is significant due to the high prevalence of hypercholesterolemia, the analyst maintains a neutral stance, reflecting a cautious optimism about Merck’s ability to capitalize on this opportunity in the face of existing challenges.

Meacham covers the Healthcare sector, focusing on stocks such as Pfizer, Eli Lilly & Co, and Merck & Company. According to TipRanks, Meacham has an average return of 1.2% and a 50.83% success rate on recommended stocks.