#5 - Merck & Co. (NYSE:MRK)
The biopharmaceutical industry is expected to make a strong recovery in 2024. That may be why there were three separate purchases of Merck & Co. Inc. (NYSE: MRK) stock by two members of Congress in December 2023 and January 2024.
MRK stock is up 20% in the last 12 months. However, the bulk of that gain has come since November 2023. Before that, the stock was being weighed down by concerns of an impending patent cliff for the company's blockbuster cancer drug, Keytruda.
However, the company's most recent earnings report showed that those concerns may be overblown, at least for now. Merck reported total Keytruda sales of $6.6 billion in just the fourth quarter of 2023.
Nevertheless, Keytruda accounted for about 45% of the company's overall revenue. That makes it essential that the company protect that revenue. It appears to be approaching that challenge from two directions. First, Merck is in clinical trials to get Keytruda approved for different indications. Second, the company has a deep pipeline of other drugs.
About Merck & Co., Inc.
Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.
Read More - Current Price
- $99.84
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $124.00 (24.2% Upside)
