Stocks
Janney Montgomery Scott Cuts MRK Stake Amid Cancer Therapy Success
Janney Montgomery Scott LLC has reduced its stake in Merck & Co., Inc. (NYSE:MRK) by 1.4% in the second quarter, according to its latest SEC filing. The firm owned 1,655,632 shares of MRK's stock after selling 24,032 shares during the quarter.
The company's market capitalization is $376.07 billion with a price-to-earnings ratio of 121.94 and a beta of 0.19. Merck & Co., Inc. has a one year low of $77.58 and a one year high of $154.49.
Several Wall Street firms have raised their outlooks for MRK following the company's cancer trial success, with Goldman Sachs increasing its price target to $160 and UBS lifting its target to $175. Morgan Stanley upgraded the shares to Overweight with a $179 target after the cancer-trial success.