Merck price target raised to $125 from $120 at Credit Suisse

Credit Suisse analyst Trung Huynh raised the firm’s price target on Merck to $125 from $120 and keeps an Outperform rating on the shares. The firm believes the 2023 American College of Cardiology conference is expected to be a major catalyst for Merck. Practice changing sotatercept data expected, with its key opinion leader highlighting he expects to see a 25 meter improvement in six-minute walk distance, which should see sotatercept being slotted as a 4L agent add-on to conventional triplet therapy. Credit Suisse’s KOL’s expectations for Phase 2 data are for a similar level of lowering low-density lipoprotein cholesterol as injectable PCSK9. Tolerability will be key, in the firm’s view.