Merck (MRK) drops as full-year forecast misses consensus
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Go back to Merck (MRK) drops as full-year forecast misses consensus
February 2, 2023 6:31 AM EST
By Michael Erman
(Reuters) - Merck & Co on Thursday forecast 2023 earnings below Wall Street estimates along with an expected steep decline in sales of its COVID-19 antiviral treatment, and its shares fell around 2%.
The U.S. drugmaker did report a higher-than-expected fourth-quarter profit on strong sales of the COVID pill molnupiravir in Asia and its blockbuster cancer drug Keytruda.
But investors appear to be focused on the outlook for this year and shares were down about 2% at $104.95, after falling as low as $102.80 earlier on Thursday.
Merck forecast 2023 adjusted earnings of... More
January 31, 2023 8:24 AM EST
UBS analyst Colin Bristow raised the price target on Merck (NYSE: MRK) to $108.00 (from $105.00) while maintaining a Neutral rating.... More
January 31, 2023 4:18 AM EST
Berenberg analyst Luisa Hector raised the price target on Merck (NYSE: MRK) to $125.00 (from $115.00) while maintaining a Buy rating.... More
