UPDATE: Merck Upgraded by Morgan Stanley on Oncology Optimism
In a report released Monday, JP Morgan analyst David Risinger upgraded Merck (NYSE: MRK) from Underweight to Overweight with a price target of $60.
Risinger notes, "Mgmt is taking the right steps—cost cuts, R&D changes, and considering strategic action—to boost company's outlook." One of the driving catalysts that the report mentioned is MK-3475, an immuno-oncology candidate which Merck filed for approval a year earlier than expected.
MRK closed Friday at $51.98 and is currently up nearly 3% at the $53.37 level.
Latest Ratings for MRK
|Apr 2015||Deutsche Bank||Maintains||Hold|
|Mar 2015||Leerink Swann||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.