Merck Stock Price (NYSE: MRK) Makes New Low As Market Shifts
On a bearish day for markets, pharmaceutical giant Merck & Co’s stock price (NYSE: MRK) hit a new 52-week low of $98.60 before steadying slightly back near $102 for a 2.79% decline on the day. This downturn brings the YTD decline in Merck stock to 10.01%.
Despite the recent trend, the company has reported robust third-quarter earnings, largely matching expectations, propelled by the success of its cancer drug Keytruda. With overall sales climbing by 4%, Merck’s revenue hit $16.66 billion, although it faced a reduction in Gardasil vaccine demand in the Chinese market.
EPS came in on track at $1.57, with the $16.66BN revenue coming against an expectation from the street of $16.51BN.
The company’s ambitious strides in the pharmaceutical…
