After Merrill Lynch and Morgan Stanley gave Merck & Company (NYSE: MRK) a Buy rating last month, the company received another Buy, this time from Credit Suisse. Analyst Lorenzo Biasio resumed coverage with a Buy rating on Merck & Company yesterday and set a price target of $95. The company’s shares closed yesterday at $81.
According to TipRanks.com, Biasio is a 3-star analyst with an average return of 4.7% and a 60.6% success rate. Biasio covers the Healthcare sector, focusing on stocks such as Clovis Oncology, Thermo Fisher, and Mylan Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Merck & Company with a $91.29 average price target, representing a 12.7% upside. In a report issued on July 2, Mizuho Securities also initiated coverage with a Buy rating on the stock with a $97 price target.
Based on Merck & Company’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $10.78 billion and net profit of $2.92 billion. In comparison, last year the company earned revenue of $10.34 billion and had a net profit of $1.71 billion.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock.
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