MorphoSys AG (NASDAQ:MOR – Get Rating) shares gapped down before the market opened on Friday . The stock had previously closed at $3.93, but opened at $3.80. MorphoSys shares last traded at $3.78, with a volume of 1,516 shares traded.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Morgan Stanley downgraded shares of MorphoSys from an “equal weight” rating to an “underweight” rating in a research note on Friday, January 6th. The Goldman Sachs Group downgraded shares of MorphoSys from a “neutral” rating to a “sell” rating in a research note on Friday, December 16th. JPMorgan Chase & Co. downgraded shares of MorphoSys from a “neutral” rating to an “underweight” rating and set a $2.90 price objective for the company. in a research note on Tuesday, January 3rd. Finally, Citigroup decreased their target price on shares of MorphoSys from €16.00 ($17.20) to €12.00 ($12.90) and set a “sell” rating for the company in a research note on Thursday, December 22nd. Five investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.58.
MorphoSys Stock Down 3.1 %
The firm has a market capitalization of $521.70 million, a PE ratio of -2.59 and a beta of 1.08. The firm’s 50 day moving average price is $4.55 and its two-hundred day moving average price is $4.50.
Institutional Trading of MorphoSys
MorphoSys AG operates as a commercial-stage biopharmaceutical company. It uses groundbreaking science and technologies to discover, develop, and deliver innovative cancer medicines to patients. The firm also engages in the development and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases.
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