Merck Stock Nabs Record High After FDA Approval

Shares are today on track for their fourth-straight daily gain

Digital Content Manager
Mar 27, 2024 at 10:19 AM
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Merck & Co Inc (NYSE:MRK) was last seen up 4.4% to trade at $130.99, after the Food and Drug Administration (FDA) approved its Winrevair treatment for adults with high blood pressure due to constriction of lung arteries. The medication will be listed $14,000 per vial, with most patients expected to use one vial every three weeks.

The blue-chip stock surged to an all-time high of $133.10 right out of the gate, and is now trading well above its 20-day moving average after a brief stint below it. Shares are today on track for their fourth-straight daily gain, and added more than 26% during the past six months. 

Options volume is running at eight times the intraday average so far today, with 14,00 calls and 8,918 puts across the tape so far. The most active is the May 130 call, followed by the April 130 call.

 

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