Why Pharma Giant Merck's Shares Are Shooting Higher Today
Portfolio Pulse from Nabaparna Bhattacharya
Merck & Company's Q3 sales reached $15.962 billion, up 7% Y/Y, beating the consensus of $15.320 billion. The growth was driven by sustained growth in Oncology and Vaccines. The company's adjusted EPS came in at $2.13, surpassing the consensus of $1.95. Merck has revised its FY23 revenue guidance to $59.7 billion-$60.2 billion versus the consensus of $55.98 billion. The company's shares are up 2.76% at $106.49.
October 26, 2023 | 2:55 pm
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NEUTRAL IMPACT
Merck recorded $0.22 of charges in 2022 related to collaboration and licensing agreements with Moderna.
The news about Merck recording charges related to its collaboration with Moderna is mentioned passively and does not provide enough information to determine its impact on Moderna's stock price.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20
POSITIVE IMPACT
Merck's Q3 sales and adjusted EPS beat consensus, driven by growth in Oncology and Vaccines. The company has revised its FY23 revenue guidance upwards. Shares are up 2.76%.
Merck's better-than-expected Q3 results and upward revision of FY23 revenue guidance indicate strong operational performance, which is likely to boost investor confidence and positively impact the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100