Merck Price Prediction: Sac-TMT Drug Potential Pushes MRK to $150

"Wells Fargo's bull case centers on sacituzumab tirumotecan, or sac-TMT, Merck's investigational anti-TROP2 antibody-drug conjugate. The firm believes sac-TMT could become the best-in-class TROP2 ADC and replace chemotherapy across multiple lung, breast, and gynecologic cancer indications. That thesis gets tangible support from the FDA, which awarded sac-TMT a Commissioner's National Priority Voucher, and from a strategic financing agreement with Blackstone Life Sciences to partially fund sac-TMT development."

"Sac-TMT's potential to displace chemo in lung, breast, and gynecologic cancers represents a multi-indication commercial opportunity that could meaningfully expand Merck's oncology franchise well into the next decade, representing a multi-indication commercial opportunity that could meaningfully expand Merck's oncology franchise well into the next decade."

"The flagship immunotherapy posted $8.337 billion in Q4 2025 revenue, up 6% year-over-year, with the FDA also accepting two sBLAs for KEYTRUDA plus Trodelvy in first-line PD-L1+ metastatic triple-negative breast cancer. Expanding indications extend KEYTRUDA's revenue runway despite the 2028 patent cliff."

Merck has gained 23% over the past year, though it remains below its 52-week high of $125.14. While Street consensus targets $127.22, Wells Fargo significantly raised its price target to $150 from $135 with an Overweight rating. Wells Fargo's bull case centers on sacituzumab tirumotecan (sac-TMT), an investigational anti-TROP2 antibody-drug conjugate that could become best-in-class and replace chemotherapy across lung, breast, and gynecologic cancers. The FDA awarded sac-TMT a Commissioner's National Priority Voucher, and Blackstone Life Sciences provided strategic financing. KEYTRUDA, Merck's flagship immunotherapy, generated $8.337 billion in Q4 2025 revenue, up 6% year-over-year, with expanding indications extending its revenue runway despite the 2028 patent cliff. WINREVAIR, the pulmonary arterial hypertension treatment, delivered $467 million in Q4 2025, up 133% year-over-year.

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