Akash Tewari, an analyst from Jefferies, maintained the Buy rating on Merck & Company (MRK – Research Report). The associated price target remains the same with $138.00.
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Akash Tewari has given his Buy rating due to a combination of factors influencing Merck & Company’s stock. One of the key considerations is the absence of HPV vaccine discussions in the upcoming ACIP meeting agenda, which suggests that there will be no immediate changes to the dosing recommendations for Gardasil, Merck’s HPV vaccine. This is significant because there were previous concerns that the dosing might be reduced, potentially impacting sales.
Furthermore, Merck has maintained a strong stance that the FDA will not alter the Gardasil label based on the current single-dose data, as the FDA requires more comprehensive evidence. This confidence in maintaining the existing dosing regimen supports the stability of Merck’s revenue from Gardasil. These factors, combined with the company’s overall market position and product pipeline, contribute to Tewari’s positive outlook on Merck’s stock.
In another report released on June 10, Goldman Sachs also maintained a Buy rating on the stock with a $99.00 price target.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRK in relation to earlier this year.