JPMorgan Chase & Co. Increases Merck & Co. Price Target to $64.00 (MRK)
Equities research analysts at JPMorgan Chase & Co. lifted their target price on shares of Merck & Co. (NYSE:MRK) from $60.00 to $64.00 in a research note issued to investors on Wednesday, American Banking & Market News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 15.92% from the company’s current price.
MRK has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Merck & Co. in a research note on Thursday, May 1st. They now have a $61.00 price target on the stock. Separately, analysts at UBS AG reiterated a “buy” rating on shares of Merck & Co. in a research note on Wednesday, April 30th. They now have a $64.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Merck & Co. from $62.00 to $66.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $60.62.
Shares of Merck & Co. (NYSE:MRK) opened at 55.21 on Wednesday. Merck & Co. has a one year low of $44.62 and a one year high of $59.84. The stock has a 50-day moving average of $56.49 and a 200-day moving average of $52.5. The company has a market cap of $162.4 billion and a price-to-earnings ratio of 36.17. Merck & Co. also was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 32,443,294 shares, a growth of 13.0% from the March 31st total of 28,708,787 shares. Based on an average daily trading volume, of 11,401,160 shares, the short-interest ratio is presently 2.8 days. Currently, 1.1% of the shares of the company are sold short.
Merck & Co. (NYSE:MRK) last released its earnings data on Tuesday, April 29th. The company reported $0.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.79 by $0.09. The company had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the company posted $0.85 earnings per share. Merck & Co.’s revenue was down 3.8% compared to the same quarter last year. Analysts expect that Merck & Co. will post $3.47 EPS for the current fiscal year.
Merck & Co, Inc (NYSE:MRK) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures.
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