Merck Melanoma Vaccine Breakthrough Sends Stock to Record High

Merck & Co. has reached an all-time high after its melanoma vaccine, developed in collaboration with Moderna, showed positive Phase 3 trial results.

The company's stock surged following this announcement, and analysts maintain a Buy rating due to strong growth in oncology, solid free cash flow, and potential for further gains.

Despite a GAAP loss from a recent strategic acquisition, Merck's future profit outlook and capital management remain strong. Analysts see a price target range of $172 to $195, with technical support at $135, indicating room for further upside.