Vetr downgraded its rating of Merck & Co., Inc. (NYSE: MRK) from 3.5 stars (buy) to 3 stars (hold). Nevertheless, sentiment is still positive with 88 percent of the crowd’s ratings bearish.
The outlook on the biotech sector has been sunny following the results of the election, given Democrat's desire to regulate pharmaceutical price changes. Merck posted a 15-year high of $65.31 last Thursday after the stock jumped 10 percent the day before.
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The market has tempered its enthusiasm for the stock slightly. Merck shares recently sat at $63.04. Vetr's judgement is backed by Jefferies, which today downgraded its rating on Merck to Hold.
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The Vetr crowd’s average target price has risen slightly to $66.07, still shy of the average analyst target of $66.33. Less than 2 percent of Vetr users hold Merck in their watch lists.
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