On November 5, Merck rose 3.04% in Regular Trading, trading at $149.02/share, with turnover of $543 million.

The move was supported by two recent catalysts: Merck began the Phase 3 Enhance-3 trial evaluating Ohtuvayre for prevention of COPD exacerbations in adults, and Cantor Fitzgerald raised its price target to $155 from $145.

The Phase 3 study has started enrolling patients in the US and is planned to include about 2,136 patients across 28 countries. The trial’s primary endpoint is the annualized rate of adjudicated moderate or severe COPD exacerbations, with secondary measures including lung function and health-related quality of life. The target-price increase adds to support after Merck’s latest quarterly report showed revenue of $18.085 billion, up 5%, adjusted EPS of $2.49 ahead of expectations, and raised full-year revenue guidance to $66.8 billion-$67.3 billion.

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