The stock of Merck & Co., Inc. (NYSE:MRK) is now priced at $84.43 and the shares are -0.84 points down or -0.99% lower compared to its previous closing price of $85.27. The stock had 6.304 million contracts set over the past session. MRK shares’ daily volume is compared to its average trading volume at 8.701 million shares. However, it has a float of 2530 million and although its performance was -1.46% over the week, it’s one to watch. Analysts have given the MRK stock a yearly average price target of $95.29 per share. It means the stock’s upside potential is 12.86% with the MRK share price recently placing at $83.92 to $85.8. However, some brokerage firms have priced the stock below the average, including one that has called $84.

The shorts are running away from the Merck & Co., Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the MRK shares have declined. Short interest in the stock represents just 0.47% of its float, but the volume has dropped by 0.

In the last trading session, Merck & Co., Inc. (NYSE:MRK) dropped by -$1.25 over the week and gained $2.76 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $92.64. The stock recorded its established 52-week high on 12/20/19.

Since 03/23/20, the stock has traded to a low of $65.25 at 29.39%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.47. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.

Looking at current readings, Merck & Co., Inc.’s two-week RSI is 58.06. This suggests that the stock is neutral at the moment and that MRK shares’ price movement remains stable. The stochastic readings are equally revealing at 74.87% meaning the MRK share price is currently in oversold territory.

The technical chart shows that the MRK stock will likely settle at between $85.51 and $86.6 per share. However, if the stock dips below $83.63, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $82.84.

Currently, the stock is trading in the red of MACD, with a reading of -0.2. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.

Analysts at Goldman raised their recommendation for MRK from Neutral to Buy in August 03 review while maintain their target price of $91 to $105. Wolfe Research analysts downgraded their recommendation of the stock from Outperform to Peer Perform in a flash note released to investors on June 12. Barclays analysts see the stock as Overweight when the analysts initiated the share price coverage on February 27, placing it at $93.

The average rating for the MRK equity is 2 and is currently gathering a bullish momentum. Of 19 analysts tracking Merck & Co., Inc. polled by Reuters, 4 rated MRK as a hold. The remaining 15 analysts were split evenly. However, the split wasn’t equal as a majority (15) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.

Elsewhere, the MRK stock price is 13.27X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 20.5 below the group’s average of 22.2. Merck & Co., Inc. has its P/E ratio at 7.7, which means that the stock is currently trading at a premium relative to the 5.4 industry average.

Zacks Consensus Estimate forecasts that the current-quarter revenues for Merck & Co., Inc. (NYSE:MRK) will increase by about 11.41%, which will see them reach $12100 million. The company’s full-year revenues are, however, expected to increase by about 2.46%, up from $46800 million to $48000 million. MRK’s expected adjusted earnings should drop almost -6.62% to end up at $1.41 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 10.21% to record $5.72/share.