Merck Stock Hits New 12-Month High on KEYTRUDA Approval and Strong Growth

Merck stock has reached a new 12-month high of $135.84 on the New York Stock Exchange as of August 17, 2026, with a market value of $335.8 billion.

The shares have climbed 69.7% over the past year, driven by recent clinical and regulatory milestones, including a new U.S. Food and Drug Administration approval for Merck's KEYTRUDA branded immunotherapies in muscle-invasive bladder cancer announced on August 17, 2026.

Analysts have lifted their targets after Q2 2026 growth, with Daiwa Securities upgrading Merck from neutral to outperform and raising its price target from $120 to $143, a lift of $23 that places the new target 5.3% above the stock's latest quoted price.

The KEYTRUDA approval provides a tangible near-term driver for revenue and earnings growth from fiscal 2027 onward once uptake ramps across eligible bladder cancer patients.