Merck: Credit Suisse cuts estimates after clinical trial.
(CercleFinance.com) - Credit Suisse has cut its estimates and target price for Merck, to reflect a limited opportunity for cholesterol-lowering medicine Anacetrapib.
After a trial showed only a 9% relative risk reduction on over 30,000 patients, the brokerage firm says it does not really see a "viable path forward for this drug to be used in a broad population of patients."
This has led the broker to reduce its target price from 75 dollars to 74 dollars.
Credit Suisse maintainsits "outperform" rating on the stock, which is driven by the upside from cancer drug Keytruda and the group's broader work in immuno-oncology.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
After a trial showed only a 9% relative risk reduction on over 30,000 patients, the brokerage firm says it does not really see a "viable path forward for this drug to be used in a broad population of patients."
This has led the broker to reduce its target price from 75 dollars to 74 dollars.
Credit Suisse maintainsits "outperform" rating on the stock, which is driven by the upside from cancer drug Keytruda and the group's broader work in immuno-oncology.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.