Merck publishes one-year results

Jefferies reduced its peak sales forecast for Merck's experimental eye treatment remigromig by 60% to $300M after trial results showed concerns about efficacy and safety compared to Lucentis. The drug met non-inferiority thresholds but showed smaller vision improvements and higher safety risks. Jefferies lowered its price target for Merck to $176 but maintained a buy rating.

RBC Capital reduced its price target for Merck (NYSE:MRK) to $145 from $150, citing lower 2027 earnings expectations. The firm's 2026 estimates align with consensus, but it forecasts slower 2027 revenue growth. Other analysts have mixed views, with Guggenheim maintaining a Buy rating and Cantor Fitzgerald raising its target. Merck also faces legal challenges and pipeline updates.

Merck and Moderna's personalized mRNA melanoma vaccine, intismeran autogene, met phase 3 trial endpoints. Production challenges include scaling tiny batches and cost. Moderna's facility began clinical supply in 2025, targeting 6-8 weeks from biopsy to dose. Provenge's high manufacturing cost led to bankruptcy, serving as a cautionary tale. Standalone personalized vaccines show mixed results, with a recent trial halted due to survival imbalance.

Merck's (MSD) immuno-cancer drug Keytruda Curex, using Alteogen's subcutaneous technology, saw a 34% U.S. prescription increase in September, with subcutaneous injections making up 15.7% of total prescriptions. U.S. sales reached $324 million, up from $241 million in August. Alteogen stands to gain from sales milestones and royalties, but a European patent dispute may impact future revenue.

Merck (MRK) reported positive one-year data from its Phase 2b/3 Brunello trial for remigromig, a novel antibody therapy for diabetic macular edema. The treatment met the primary endpoint of non-inferiority in visual acuity improvement compared to the standard treatment. Merck's dividend yield stands at 2.37% with a payout ratio of 1.11, and the stock is modestly overvalued by 20.4% relative to its GF Value of $120.93.

Merck (MRK) reported positive late-stage trial results for its experimental eye drug remigromig, showing vision improvement in diabetic patients but with safety concerns. The company's dividend yield is 2.37% with a high payout ratio of 1.11, raising sustainability questions. MRK's GF Score is 79, reflecting strong profitability but weaker momentum. Insider activity shows significant selling, while institutional sentiment is mixed.