Why Did MRNA, MRK, TGT Stocks Jump To 52-Week Highs Today?

• MRNA stock jumped nearly 177% at the close on Wednesday after it said that its mRNA cancer treatment, developed with Merck, met the primary goal in a pivotal late-stage melanoma study. 
• Meanwhile, MRK stock jumped more than 12% on the same catalyst. 
• TGT stock closed up more than 4% higher on Wall Street price target hikes after it posted strong second-quarter results. 

Shares of Moderna Inc. (MRNA), Merck & Co Inc. (MRK), and Target Corp. (TGT) surged to 52-week highs on Wednesday on positive trial results, as well as Wall Street optimism. 

MRNA stock jumped nearly 177% at the close on Wednesday after it said that its mRNA cancer treatment, developed with Merck, met the primary goal in a pivotal late-stage melanoma study. Meanwhile, MRK stock jumped more than 12% on the same catalyst. 

TGT stock closed up more than 4% higher on Wall Street price target hikes after it posted strong second-quarter results. 

Moderna, Merck Gain From Positive Cancer Treatment Trial Results

MRNA stock rocketed to a 52-week high of $176.66 on Wednesday, posting its steepest climb on record, after it posted trial results from a cancer treatment developed alongside Merck. 

Meanwhile, MRK stock surged to an annual high of $153.50, posting the most gains since March 2009. 

Moderna and Merck’s Phase 3 INTerpath-001 trial found that Intismeran Autogene combined with Keytruda significantly improved recurrence-free and distant metastasis-free survival in patients with high-risk melanoma following surgery. 

The 1,137-patient trial marks the first positive Phase 3 result for a personalized neoantigen therapy and Moderna’s mRNA cancer treatment. 

Intismeran is tailored to each patient’s tumor mutations to help the immune system target cancer cells. The results build on Phase 2b data showing a 49% reduction in recurrence or death and a 59% reduction in distant metastasis or death. 

The companies are continuing to evaluate overall survival and are testing the treatment across nine additional trials covering several cancers, including lung, bladder, kidney, pancreatic and gastric cancers.

Retail sentiment on Stocktwits for MRNA stock and MRK stock jumped from ‘bearish’ to ‘extremely bullish’ over 24 hours amid ‘extremely high’ message volumes. 

MRNA stock has gained more than 465% so far in 2026, while MRK stock is up nearly 43%. 

Target Gains Wall Street Thumbs Up On Strong Q2 Results

TGT stock surged to a 52-week high of $161.98 on Wednesday, putting it on track for a fourth consecutive week of gains after it received a series of Wall Street price target updates following its strong Q2 results. 

The retail store chain posted adjusted earnings per share of $2.46 on $26.54 billion in revenue, beating analyst consensus estimates. 

DA Davidson raised its price target on Target to $185 from $170 and maintained a ‘Buy’ rating following the earnings report. The revised target implies an upside of more than 16% from its last close. 

The analyst said that the company is showing better inventory management, supply chain, in-store execution, and delivery strength. DA also added that Target's comparable sales have been solid for two straight quarters and its margins have rebounded 140 basis points from the low of 3.5% in the first quarter of 2023. There is "plenty of room to go, both on the sales and profit, yielding higher earnings power," the firm said.

Barclays also increased the price target on the company to $140 from $115 and maintained an ‘Underweight’ rating on the shares following its Q2 report.

Retail sentiment on Stocktwits around TGT stock was ‘extremely bullish’ at the time of writing amid ‘extremely high’ message volumes. The company's shares have gained more than 58% so far in 2026. 

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