Merck & Co. Hits New 52-Week High as Analysts Raise Targets

Merck & Co., Inc. (NYSE:MRK) reached a new 12-month high on Wednesday, trading as high as $137.98 per share and closing at $135.3360.

The stock's price surge comes after several analyst upgrades and target price increases in recent months.

Scotiabank raised its target price to $155.00 from $136.00 and gave the company a 'sector outperform' rating on June 30th, while Barclays increased its target price to $150.00 from $140.00 with an 'overweight' rating on July 29th.

Despite reaching a new high, Merck & Co., Inc.'s stock has been the subject of some insider selling in recent weeks, with EVP Jennifer Zachary and EVP David R. Maraldo selling shares worth over $10 million combined.