Jim Cramer highlights Merck’s recent stock recovery and potential upside after Johnson & Johnson challenges its oncology dominance.
Merck & Co. (NYSE:MRK) gained $3 as Jim Cramer suggested the stock could rebound to $120. The move follows a strong quarterly report overshadowed by sector-wide pharma weakness earlier in May.
Cramer noted Merck’s leadership in cancer treatment faces growing competition from Johnson & Johnson (JNJ). The company will review its oncology portfolio post-2026 ASCO Conference, a key industry event. Prior sessions saw MRK trade near $115 before recent declines.
Shares have recovered from a mid-month dip, reflecting investor confidence in Merck’s pipeline and management under CEO Rob Davis.