Merck (MRK) drops as full-year forecast misses consensus
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Merck sees sharp decline in COVID sales for 2023 after strong fourth quarter
February 2, 2023 6:31 AM ESTBy 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
Merck (MRK) PT Raised to $108 at UBS
January 31, 2023 8:24 AM ESTUBS analyst Colin Bristow raised the price target on Merck (NYSE: MRK) to $108.00 (from $105.00) while maintaining a Neutral rating.... More
Merck (MRK) PT Raised to $125 at Berenberg
January 31, 2023 4:18 AM ESTBerenberg analyst Luisa Hector raised the price target on Merck (NYSE: MRK) to $125.00 (from $115.00) while maintaining a Buy rating.... More
