New York, Feb 13, 2026, 16:43 EST — After-hours
- Merck picked up 1.8% after hours, boosted by a Deutsche Bank upgrade and a raised price target.
- With major oncology data on the horizon, investors are scrutinizing Merck’s strategy for growth after Keytruda.
- U.S. markets take a break Monday for Washington’s Birthday. Trading in cash equities picks up again on Tuesday.
Merck & Co (MRK.N) climbed 1.8% to $121.41 in Friday’s after-hours session, boosted by a Deutsche Bank upgrade to buy and a raised price target. Analyst James Shin argued, “We believe the market is currently undervaluing MRK … a clear path for MRK to navigate this transition.” Deutsche Bank projects that between the pipeline and recent acquisitions, Merck could tack on over $35 billion in risk-adjusted revenue by 2035. Investing.com
Right now, Merck’s stock feels hypersensitive—one question about what replaces Keytruda after its growth stalls, and shares can jerk. The specter of the “patent cliff,” that familiar moment when rivals roll out generics and pricing leverage disappears, continues to shadow nearly every discussion about the stock.
Merck, headquartered in Rahway, New Jersey, announced Thursday it plans to unveil fresh bladder and kidney cancer data at the ASCO Genitourinary Cancers Symposium, set for Feb. 26-28. Three of its studies landed spots in the conference’s press program. Among these: KEYNOTE-B15, which looks at combining Keytruda and Padcev before and after surgery for muscle-invasive bladder cancer. The other two, late-breaking studies in kidney cancer, evaluate Welireg together with Keytruda or with Eisai’s Lenvima. “We’re excited to share new results from our portfolio and pipeline for more patients with certain types of bladder and kidney cancers,” said Dr. Marjorie Green, senior vice president and head of oncology global clinical development at Merck Research Laboratories. Nasdaq
Traders watch these conference calendars closely. A suggestion that a combo improves survival rates, or stops cancer from coming back post-surgery, can jolt forecasts fast—well ahead of anything from regulators.
Merck’s top marketing executive, Chirfi Guindo, unloaded 10,000 shares on Feb. 12, according to a Thursday filing. The transaction went through at a weighted average price close to $121.46, trimming his stake to roughly 60,615 shares. Insider selling isn’t unusual, but it tends to attract attention when the stock’s brushing up against recent highs.
Merck’s latest step lands just as investors are shifting toward the more stable parts of healthcare—places where fresh clinical results still make waves. For major pharma players, the strategy rarely changes much: protect the core drugs, push into earlier stages of treatment, and snap up scalable assets.
The bull case has a clear Achilles’ heel. Disappointing late-stage results, or unexpected safety flags in bigger trials, could quickly chill hopes for that post-Keytruda revenue handoff.
U.S. markets are closed Monday for Washington’s Birthday, so trading resumes Tuesday. That’s an extra day for investors to chew over the analyst call and the latest pipeline news.
ASCO GU abstracts are up next. OncologyPipeline expects most of them to post on Feb. 23, just ahead of the San Francisco conference, which runs Feb. 26-28. That timing has a way of shaking up sentiment before anyone steps up to present.
