Trial Results: Merck and Eisai's Phase 3 LEAP-012 trial of Keytruda plus Lenvima in combination with TACE for unresectable hepatocellular carcinoma did not achieve statistical significance for overall survival compared to TACE alone, leading to the decision to close the study.
Safety Profile: The safety profile of the Keytruda and Lenvima combination was consistent with previous studies, and further data analysis is ongoing.
Progression-Free Survival: The combination therapy met the primary endpoint of progression-free survival, showing a statistically significant improvement over TACE alone.
Data Presentation: Results from the interim analysis were presented at the European Society for Medical Oncology Congress 2024 and published in The Lancet, with consistent findings in subsequent follow-ups.
Wall Street analysts forecast MRK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRK is 119.53 USD with a low forecast of 95.00 USD and a high forecast of 139.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
Wall Street analysts forecast MRK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRK is 119.53 USD with a low forecast of 95.00 USD and a high forecast of 139.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Buy
5 Hold
0 Sell
Moderate Buy
Current: 109.180
Low
95.00
Averages
119.53
High
139.00
Current: 109.180
Low
95.00
Averages
119.53
High
139.00
TD Cowen
Steve Scala
Hold
maintain
$100 -> $120
2026-01-20
New
Reason
TD Cowen
Steve Scala
Price Target
$100 -> $120
AI Analysis
2026-01-20
New
maintain
Hold
Reason
TD Cowen analyst Steve Scala raised the firm's price target on Merck to $120 from $100 and keeps a Hold rating on the shares. The firm said Merck is a great company, but barring bolstering of growth outlook, they think it is unlikely to be a top pharma stock.
BofA
Underperform
maintain
$24 -> $27
2026-01-20
New
Reason
BofA
Price Target
$24 -> $27
2026-01-20
New
maintain
Underperform
Reason
BofA raised the firm's price target on Moderna (MRNA) to $27 from $24 and keeps an Underperform rating on the shares. The company released five-year data for intismeran in combo with Merck's (MRK) Keytruda in high-risk melanoma patients, the analyst tells investors in a research note. While there is upside risk into the firm still notes historical limitations of pembro combos, logistical challenges, and a higher bar for success, adding that the higher price target comes on higher peak sales expectations for intismeran in adjuvant melanoma.
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Wolfe Research
Alexandria Hammond
Peer Perform -> Outperform
upgrade
$135
2026-01-08
Reason
Wolfe Research
Alexandria Hammond
Price Target
$135
2026-01-08
upgrade
Peer Perform -> Outperform
Reason
As previously reported, Wolfe Research analyst Alexandria Hammond upgraded Merck to Outperform from Peer Perform with a $135 price target. After modeling in Merck's late-stage pipeline assets, accounting for label expansion opportunities, and factoring in prescriber feedback, the firm view the five-year revenue bridge as "attractive" and would argue the stock is "poised for a breakout" following accretive M&A and ahead of an attractive catalyst path.
Wolfe Research
Peer Perform -> Outperform
upgrade
$135
2026-01-08
Reason
Wolfe Research
Price Target
$135
2026-01-08
upgrade
Peer Perform -> Outperform
Reason
Wolfe Research upgraded Merck to Outperform from Peer Perform with a $135 price target.
About MRK
Merck & Co., Inc. is a global health care company that delivers health solutions through its prescription medicines, including biologic therapies, vaccines and animal health products. Its Pharmaceutical segment includes human health pharmaceutical and vaccine products. The Company sells its human health pharmaceutical products primarily to drug wholesalers and retailers, hospitals, government agencies and managed health care providers. It sells these human health vaccines primarily to physicians, wholesalers, distributors and government entities. Its Animal Health segment discovers, develops, manufactures and markets a range of veterinary pharmaceutical and vaccine products, as well as health management solutions and services, for the prevention, treatment and control of disease in all livestock and companion animal species. Its products include KEYTRUDA (pembrolizumab) injection, for intravenous use; WELIREG (belzutifan) tablets, for oral use; Ohtuvayre (ensifentrine) and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
