Brokerages Set Morphic Holding, Inc. (NASDAQ:MORF) PT at $65.29

Shares of Morphic Holding, Inc. (NASDAQ:MORFGet Rating) have been given an average recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $65.29.

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $83.00 price objective on shares of Morphic in a research note on Friday, August 5th. Stifel Nicolaus initiated coverage on shares of Morphic in a research note on Tuesday, September 6th. They set a “buy” rating and a $44.00 target price on the stock. Wells Fargo & Company raised their target price on shares of Morphic from $77.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 8th. Finally, Royal Bank of Canada raised their target price on shares of Morphic from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, November 3rd.

Institutional Investors Weigh In On Morphic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MORF. Nisa Investment Advisors LLC purchased a new stake in Morphic during the 2nd quarter valued at approximately $28,000. UBS Group AG purchased a new stake in Morphic during the 1st quarter valued at approximately $54,000. Group One Trading L.P. purchased a new stake in Morphic during the 1st quarter valued at approximately $56,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Morphic by 1,253.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,274 shares of the company’s stock valued at $64,000 after buying an additional 2,106 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in Morphic during the 3rd quarter valued at approximately $69,000. Institutional investors own 81.64% of the company’s stock.

Morphic Stock Down 0.7 %

Shares of NASDAQ:MORF opened at $28.57 on Tuesday. The firm’s 50 day moving average price is $27.76 and its 200-day moving average price is $26.40. Morphic has a twelve month low of $19.23 and a twelve month high of $52.45. The stock has a market capitalization of $1.10 billion, a PE ratio of -18.80 and a beta of 1.26.

Morphic (NASDAQ:MORFGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.78) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.02. Morphic had a negative net margin of 75.53% and a negative return on equity of 15.98%. The firm had revenue of $2.06 million for the quarter, compared to analysts’ expectations of $3.83 million. Analysts expect that Morphic will post -1.76 earnings per share for the current fiscal year.

Morphic Company Profile

(Get Rating)

Morphic Holding, Inc operates as a biopharmaceutical company, which engages in the research and development of oral small-molecule integrin therapeutics. It operates a Morphic integrin technology platform, MInT platform, to create a broad pipeline of programs across a variety of therapeutic areas. The company was founded by Timothy A.

Further Reading

Analyst Recommendations for Morphic (NASDAQ:MORF)

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