Merck stock hits new 52-week high as Lipfendra approval and oncology data lift growth story

Merck & Co., Inc. (ISIN US58933Y1055) has seen Merck stock reach a new 52-week high of $131.84 on the NYSE, with the move supported by accelerating pipeline news flow and a one-year share price increase of about 56.09% as reported on 26 July 2026 by Investing.com.

Shares near 52-week high at $131.84

According to price data compiled by Investing.com, Merck stock touched a 52-week high of $131.84 in late July 2026, with the stock also showing a one-year percentage change of roughly 56.09% as of that date.

The same data set indicates that Merck shares have climbed strongly over the past twelve months, underscoring how the market is increasingly pricing in contributions from new products and late-stage pipeline assets alongside established blockbusters such as the cancer therapy Keytruda.

FY 2026 EPS guidance and analyst targets

On the fundamentals side, Merck has set its fiscal 2026 earnings guidance in a range of $5.04 to $5.16 in earnings per share (EPS), according to a recent investor filing summary highlighted by MarketBeat on 27 July 2026.

The same MarketBeat overview notes that sell-side consensus, based on a basket of major brokers, now implies an average price target of about $133.94 for Merck stock, compared with the recent 52-week high of $131.84; this leaves only a narrow upside gap of roughly $2.10, or about 1.6%, versus the consensus objective as of late July 2026.

Within that consensus, Scotiabank in a research report dated 30 June 2026 raised its target price for Merck from $136.00 to $155.00 and assigned a sector outperform rating, while Wells Fargo increased its own target from $145.00 to $150.00 in a note published on 8 July 2026, as summarized by MarketBeat.

Lipfendra launch priced at $315 per month

A key incremental driver for sentiment has been the approval of Lipfendra, Merck's first-in-class oral PCSK9 inhibitor for high cholesterol, which recently received clearance from the U.S. Food and Drug Administration through the Commissioner’s National Priority Voucher pathway, as reported by Investing.com on 26 July 2026.

Investing.com notes that Lipfendra, also known as enlicitide, is set to be priced at $315 for a 30-day supply at launch, giving investors an initial benchmark for potential revenue per patient in the emerging oral PCSK9 category.

The same report highlights that the cardiovascular franchise could gain further traction as Lipfendra complements existing lipid-lowering agents, potentially broadening Merck's reach in primary and secondary prevention settings where adherence-friendly oral therapies can be attractive.

Oncology and HIV pipeline strengthens growth case

On the oncology side, Merck's partner Kelun-Biotech has reported positive Phase 3 data for sacituzumab tirumotecan in combination with Merck's immunotherapy Keytruda in first-line PD-L1 negative non-squamous non-small cell lung cancer, achieving a significant improvement in progression-free survival versus standard regimens, according to Investing.com.

While the exact numerical progression-free survival benefit was not detailed in the summary, the Phase 3 success further underpins expectations that Merck can extend the Keytruda franchise into additional combinations and indications beyond its current multi-billion-dollar revenue base.

In infectious diseases, Merck is also preparing to showcase Phase 3 HIV data from its ISLEND-1 and ISLEND-2 trials at the International AIDS Conference, with results expected to clarify the competitive positioning of its long-acting regimens in a market that has been increasingly focused on durability and convenience.

Keytruda remains central revenue contributor

According to recent company filings and earnings materials summarized by investor-focused portals, Merck's oncology portfolio, led by Keytruda, continued to generate strong year-on-year growth in the latest reported quarter, with Keytruda alone contributing well over $5 billion in quarterly revenue and increasing by double-digit percentages compared with the same period a year earlier.

These trends suggest that even as the company guides for fiscal 2026 EPS of $5.04 to $5.16, as noted by MarketBeat, there is room for upside if newer launches such as Lipfendra and additional oncology combinations scale faster than currently embedded in consensus models.

For investors, the combination of a high-conviction oncology revenue base, expanding cardiovascular offerings, and visible HIV and other pipeline readouts helps to explain why Merck stock now trades near the upper end of its historical range and close to or slightly below many large-bank price targets.

Keytruda immunotherapy as flagship product

Keytruda, Merck's flagship programmed death receptor-1 (PD-1) blocking antibody, is one of the world’s largest prescription drugs by sales and has become the backbone of the company’s oncology franchise across indications such as lung cancer, melanoma, and head and neck cancer.

Recent clinical updates, including the sacituzumab tirumotecan combination with Keytruda in first-line PD-L1 negative non-squamous NSCLC highlighted by Investing.com, reinforce the role of Keytruda as a platform for combination strategies rather than a single-product franchise, which is an important strategic factor for long-term revenue durability.

Merck stock valuation and market standing

At the recent 52-week high of $131.84 as cited by Investing.com, Merck stock trades only modestly below the $133.94 consensus price target reported by MarketBeat, indicating that much of the near-term optimism around EPS growth and pipeline catalysts is reflected in the share price.

MarketBeat also notes that, based on its aggregation of broker ratings, Merck currently carries a Moderate Buy consensus with a mix of Buy and Hold recommendations, reflecting both the strength of its product base and the need to monitor post-Keytruda diversification over the long term.