Leerink Partners analyst Daina Graybosch has maintained their bullish stance on MRK stock, giving a Buy rating yesterday.
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Daina Graybosch’s rating is based on several key considerations. Despite a lukewarm market reaction to Merck’s recent earnings report, which included a resource reallocation and a slight miss on vaccine revenue, Graybosch sees potential in the company’s undervalued pipeline. The analyst notes that investor sentiment is currently overshadowed by macroeconomic and regulatory concerns, as well as the impending loss of exclusivity for Keytruda.
Graybosch is optimistic about upcoming cardiovascular and pulmonary data releases, which could significantly boost Merck’s long-term revenue prospects. Additionally, the analyst highlights management’s confidence in their oral PCSK9 inhibitor, enlicitide, and the potential impact of new regulatory language that could delay price caps on Keytruda. These factors contribute to the Buy rating, as they suggest potential for sustained revenue and renewed investor interest.
In another report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $94.00 price target.