Analysts Flock to Moderna, Analog Devices as Merck & Co. Navigates Patent Cliff
Moderna's (MRNA) stock is back in focus after two analysts revised their ratings following breakthrough melanoma data. Myles Minter upgraded MRNA to Buy, citing Phase III results showing that Moderna's personalized cancer vaccine, intismeran, combined with Merck's (MRK) Keytruda significantly reduced melanoma recurrence and distant spread while maintaining safety.
Alec Stranahan also shifted his view, increasing his price target for MRNA to $170. He believes the data fundamentally changes the stock's story, positioning oncology as a major growth driver alongside infectious diseases.
Analog Devices (ADI) is gaining traction due to its cyclical recovery and structural growth from AI data centers. Stacy Rasgon upgraded ADI to Buy with a $465 price target after the company reported strong quarterly earnings that exceeded expectations across various sectors, including auto, industrial, consumer, and communications.
Merck & Co., meanwhile, is being reevaluated as it may navigate the looming Keytruda patent cliff more smoothly than anticipated. Terence Flynn upgraded MRK to Buy with a $179 target, arguing that recent oncology successes support a base case of flat revenues after Keytruda loses exclusivity.