Where is Merck & Co., Inc. (MRK) Headed According to the Street?

Merck & Co., Inc. (NYSE:MRK) is one of the best immunotherapy stocks to buy according to hedge funds. On February 13, Merck & Co., Inc. (NYSE:MRK) was upgraded to Buy from Hold by Deutsche Bank, with the firm raising the price target to $150 from $115 and telling investors that it believes the market is undervaluing the company because of Keytruda’s looming patent cliff. The firm’s analysis demonstrates a “clear path” for the company to navigate the transition effectively, adding that it believes Merck & Co., Inc. (NYSE:MRK) has a line of sight to growth, excluding Keytruda, with a trough earnings “formation at hand.”

In a separate development, Merck & Co., Inc. (NYSE:MRK) announced on February 11 the FDA approval of KEYTRUDA® and KEYTRUDA QLEX™ plus paclitaxel, with or without bevacizumab, for the treatment of adults with PD-L1+, as determined by an FDA-authorized test, platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal carcinoma, who have received one or two prior systemic treatment regimens. Management stated that KEYTRUDA and KEYTRUDA QLEX mark the first and only PD-1 inhibitors approved for adults with platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal carcinoma with PD-L1+ tumors.

Merck & Co., Inc. (NYSE:MRK) also stated that KEYTRUDA QLEX’s effectiveness for its approved indications was supported by the adequate and well-controlled studies conducted with KEYTRUDA, along with additional data from MK-3475A-D77 comparing the pharmacokinetic, efficacy, and safety profiles of KEYTRUDA QLEX and KEYTRUDA.

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. The company’s medicine KEYTRUDA may treat certain cancers by working with the immune system.

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