Merck & Co., Inc. MRK shares are trading higher by 3.4% at $84.18 after SVB Leerink maintained an Outperform rating on the stock and raised its price target from $101 to $104.
Merck shares were trading higher Friday after the company, and Ridgeback, announced investigational oral antiviral molnupiravir reduced risk of hospitalization or death by roughly 50% versus placebo for patients with mild to moderate COVID-19 in Phase 3 interim analysis.
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer and infections.
Merck has a 52-week high of $84.56 and a 52-week low of $68.29.
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