Guggenheim Lifts PT on Merck & Co. (MRK) to $122 From $104

Merck & Co., Inc. (NYSE:MRK) is one of the best pharma stocks to invest in. Guggenheim lifted the price target on Merck & Co., Inc. (NYSE:MRK) to $122 from $104 on December 5 while maintaining a Buy rating on the shares. The firm cited the inclusion of probability-adjusted revenues for Winrevair in the population investigated in the Phase 2 CADENCE trial as a significant factor supporting the rating upgrade.

Similarly, Scotiabank analyst Louise Chen and Goldman Sachs analyst Asad Haider also raised their price targets on Merck & Co., Inc. (NYSE:MRK) on December 4 and December 2, respectively. Chen lifted the price target to $120 from $105 while maintaining an Outperform rating, while Haider raised the price target to $120 from $92 while keeping a Buy rating on the shares.

In another development, Merck Animal Health, a division of Merck & Co., Inc., Rahway, N.J., USA (NYSE:MRK) that is known as MSD Animal Health outside of the United States and Canada, announced on December 4 that the U.S. Food and Drug Administration (FDA) granted a conditional approval for EXZOLT™ CATTLE-CA1 (fluralaner topical solution). This makes EXZOLT™ CATTLE-CA1 the first in its class and the only product holding conditional approval to both treat and prevent infestations caused by New World screwworm (Cochliomyia hominivorax) larvae (myiasis) and to treat and control cattle fever tick (Rhipicephalus microplus).

Merck & Co., Inc. (NYSE:MRK) is a biopharmaceutical company that delivers health solutions to advance the treatment and prevention of diseases in animals and people. Its Pharmaceutical segment offers vaccines and human health pharmaceutical products, typically therapeutic and preventive agents. Its Animal Health segment develops, discovers, manufactures, and markets a range of vaccines and veterinary pharmaceutical products.

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Disclosure: None. This article is originally published at Insider Monkey.