MorphoSys’ (MOR) “Market Outperform” Rating Reaffirmed at JMP Securities

MorphoSys (NASDAQ:MOR)‘s stock had its “market outperform” rating restated by research analysts at JMP Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $17.00 price objective on the stock. JMP Securities’ price objective indicates a potential upside of 279.46% from the stock’s current price.

Several other research firms have also commented on MOR. Morgan Stanley upgraded shares of MorphoSys from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $3.70 to $9.20 in a research note on Friday, October 13th. The Goldman Sachs Group raised MorphoSys from a “sell” rating to a “neutral” rating and upped their price target for the stock from $3.50 to $9.25 in a research report on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.41.

MorphoSys Stock Down 23.5 %

MOR traded down $1.38 on Tuesday, hitting $4.48. The company had a trading volume of 2,363,390 shares, compared to its average volume of 215,626. The stock has a market capitalization of $613.45 million, a price-to-earnings ratio of 11.49 and a beta of 1.04. The stock has a fifty day moving average price of $7.12 and a 200-day moving average price of $7.23. MorphoSys has a 12-month low of $3.17 and a 12-month high of $8.67. The company has a debt-to-equity ratio of 7.56, a quick ratio of 3.27 and a current ratio of 3.57.

Hedge Funds Weigh In On MorphoSys

A number of institutional investors have recently modified their holdings of the stock. Schonfeld Strategic Advisors LLC acquired a new stake in MorphoSys during the third quarter worth about $186,000. Qube Research & Technologies Ltd acquired a new position in shares of MorphoSys in the 3rd quarter valued at $40,000. Optiver Holding B.V. increased its holdings in MorphoSys by 8,577.2% in the third quarter. Optiver Holding B.V. now owns 144,042 shares of the company’s stock valued at $968,000 after buying an additional 142,382 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of MorphoSys during the 3rd quarter worth about $97,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of MorphoSys during the 2nd quarter valued at about $361,000.

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.