MorphoSys (NASDAQ:MOR) Sees Unusually-High Trading Volume

MorphoSys AG (NASDAQ:MOR) shares saw unusually-high trading volume on Friday . Approximately 74,289 shares changed hands during mid-day trading, a decline of 53% from the previous session’s volume of 159,574 shares.The stock last traded at $8.25 and had previously closed at $7.98.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MOR. UBS Group began coverage on MorphoSys in a research report on Wednesday, May 31st. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded MorphoSys from a “sell” rating to a “hold” rating in a research report on Monday, July 17th. The Goldman Sachs Group upgraded MorphoSys from a “sell” rating to a “neutral” rating and lifted their price target for the company from $3.50 to $9.25 in a research report on Thursday. JPMorgan Chase & Co. upgraded MorphoSys from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $3.30 to $10.00 in a report on Friday, June 16th. Finally, Wells Fargo & Company assumed coverage on MorphoSys in a research report on Friday, June 16th. They set an “overweight” rating and a $17.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.65.

MorphoSys Stock Up 3.0 %

The company has a debt-to-equity ratio of 7.56, a current ratio of 3.57 and a quick ratio of 3.27. The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.51 and a beta of 1.09. The firm has a 50 day moving average of $7.78 and a 200-day moving average of $6.36.

MorphoSys (NASDAQ:MOR) last released its quarterly earnings data on Wednesday, August 9th. The company reported ($0.59) earnings per share for the quarter. The company had revenue of $57.91 million for the quarter. MorphoSys had a net margin of 27.67% and a return on equity of 154.85%. On average, equities research analysts expect that MorphoSys AG will post -1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MOR. T. Rowe Price Investment Management Inc. acquired a new position in MorphoSys during the 4th quarter worth $26,056,000. Opaleye Management Inc. raised its position in shares of MorphoSys by 640.9% during the 4th quarter. Opaleye Management Inc. now owns 896,600 shares of the company’s stock valued at $3,210,000 after acquiring an additional 775,585 shares during the last quarter. Logos Global Management LP raised its position in shares of MorphoSys by 66.7% during the 1st quarter. Logos Global Management LP now owns 1,500,000 shares of the company’s stock valued at $5,940,000 after acquiring an additional 600,000 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of MorphoSys during the 2nd quarter valued at $1,634,000. Finally, Marshall Wace LLP bought a new stake in shares of MorphoSys during the 2nd quarter valued at $1,468,000.

About MorphoSys

MorphoSys AG, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. It offers Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B-cell lymphoma, follicular lymphoma, and marginal zone lymphoma.