10 Best Cancer Stocks To Buy Now

4. Merck & Co., Inc. (NYSE:MRK)

Hedge Fund Holdings: 96 

Merck & Co., Inc. (NYSE:MRK) is a global pharmaceutical company specializing in oncology, vaccines, hospital care, and animal health. It generates revenue mainly from pharmaceutical products and vaccines, with a significant portion coming from its cancer drug Keytruda. Merck’s dominance in cancer treatment, particularly with Keytruda, has made it a key player in the market due to the drug’s effectiveness across various cancers.

While Keytruda is a significant contributor to Merck’s success, the company maintains a diversified portfolio. Its HPV vaccine, Gardasil, saw a 14% increase in sales to $2.25 billion in Q1 2024, demonstrating Merck & Co., Inc. (NYSE:MRK)’s strength in the vaccine market. The company is developing innovative combinations of Keytruda with other immunotherapies, including TIGIT, LAG3, and CTLA-4 inhibitors. In partnership with Moderna, Merck is developing a personalized mRNA therapeutic cancer vaccine (V940/mRNA-4157) to be used in combination with Keytruda. Merck & Co., Inc. (NYSE:MRK) faces a significant revenue risk from Keytruda’s patent expiration in 2028. To address this, the company is diversifying its pipeline with new cancer candidates, making strategic acquisitions like Harpoon Therapeutics, and planning eight new product launches between 2025 and 2030.

In Q2 2024, there were 96 hedge fund holders in the stock with Fisher Asset Management being the largest holder with 14,266,015 shares worth $1,766,132,800. The stock holds a Strong Buy rating based on 17 Wall Street analysts. The average price target is $140.82, with a high of $155.00 and a low of $125.00, indicating a 19.95% potential increase from the current price of $117.40.