Merck (MRK) recently announced that its pivotal Phase 3 trial that evaluated Zerbaxa met its primary endpoint. Zerbaxa is an investigational antibiotic for the treatment of adult individuals with ventilated hospital-acquired bacteria pneumonia or ventilator-associated bacterial pneumonia (or VABP). Zerbaxa demonstrated non-inferiority compared to meropenem.
Zerbaxa is already approved for the treatment of adult individuals with complicated urinary tract infection caused by gram-negative microorganisms. Zerbaxa has also been approved in combination with metronidazole for the treatment of adult individuals with complicated intra-abdominal infections caused by gram-negative and gram-positive microorganisms.
Merck has plans to submit an sNDA (supplementary New Drug Application) to the FDA and EMA (European Medicines Agency) for label expansion of Zerbaxa. This expansion relates to the new indication being investigated for the Phase 3 ASPECT-NP trial.
On September 13, Merck’s stock price closed at $70.83, up 1.39% growth from the previous day’s close of $69.86. Merck hits its 52-week high of $70.83 on September 13.
On September 13, Merck stock closed at $70.83, which is a 34.0% rise from its 52-week low of $52.83 on April 3.
Of the 19 analysts tracking Merck (MRK) stock in September, four recommended a “strong buy” while ten analysts recommended a “buy.” Five analysts recommended a “hold” for Merck in September.
On September 13, Merck had a consensus 12-month target price of $72.15, which represents an ~1.86% return on investment over the next 12 months.
On September 13, Johnson & Johnson and Pfizer had consensus 12-month target prices of $143.85 and $42.20, respectively, for ~2.83% growth and an ~1.52% decline over the next 12 months.