Merck target upped by Credit Suisse

 

• Credit Suisse has raised the price target on Merck & Co Inc 
  MRK+0.62%+ Free Alerts
   from $120 to $125, with an Outperform rating.
• The 2023 American College of Cardiology conference is expected to be a significant catalyst for Merck, says the analyst. 
• The key investor focus will be readouts on March 6 from sotatercept's Phase 3 STELLAR trial for Pulmonary Arterial Hypertension (PAH) and the cholesterol-lowering Phase 2 data from oral PCSK9 (MK-0616).
• KOL expects a ~25-meter improvement in a six-minute walk distance, which should see sotatercept being slotted as a 4L agent add-on to conventional triplet therapy. 
• Credit Suisse forecasts a 90% probability of c.$3 billion in peak sales.
• CS's KOL's expectations for Phase 2 data are for a similar level of lowering low-density lipoprotein cholesterol as injectable PCSK9. Tolerability will be key.
• The analyst has increased the POS from 30% to 50% and oral PCSK9 peak sales from $1.3 billion to $5 billion. However, a slow build with a turning point based on CVOT data is expected in 2028.

https://www.benzinga.com/analyst-ratings/analyst-color/23/02/30881922/stellar-opportunity-for-merck-at-upcoming-data-presentation-analyst-says-while-boos