Merck Shares Soar on Breakthrough Cancer Therapy Results
Merck & Co.'s (MRK) shares have surged to a fresh 52-week high on the New York Stock Exchange, reaching $154.49 per share after positive Phase 3 results for its personalized mRNA cancer therapy co-developed with Moderna (MRNA).
The breakthrough is seen as a next-generation growth engine that could offset looming patent expiration concerns for its blockbuster immunotherapy Keytruda.
Morgan Stanley upgraded Merck from Equal-weight to Overweight and raised its price target from $116 to $179, citing strong growth potential. Analyst Terence Flynn noted that 'despite the approaching patent expiration of flagship oncology drug Keytruda, Merck's next-generation pipeline and capital allocation strategy should dispel market concerns and drive further growth.'
The success of Intismeran Autogene, a personalized mRNA cancer therapy, was driven by a trial of 1,137 high-risk melanoma patients who demonstrated significantly longer survival without cancer recurrence or metastasis to other organs.