After Sotatercept hit its primary endpoint in its Phase 3 STELLAR trial and significantly improved exercise capacity, Jefferies said the company’s cardio franchise was a "large part" of why the firm made Merck a top pick in pharma. In particular, the firm models Sotatercept peak sales at twice Street estimates, or $7.5Bn versus $3.3B, and the latest data supports its bullish view, the analyst tells investors. Jefferies has a Buy rating and $125 price target on Merck shares.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on MRK:
- Merck cardiovascular franchise set for ‘resurgence,’ says Mizuho
- Gossamer Bio downgraded to Market Perform from Outperform at Raymond James
- Merck to hold a virtual investor event
- Merck says MK-0616 ‘significantly reduced’ LDL-C in Phase 2b study
- Merck: FDA approves IM route of administration for MMRV family of vaccines
