Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) has earned an average recommendation of "Buy" from the eight ratings firms that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $64.43.
MORF has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Morphic from $79.00 to $77.00 and set an "overweight" rating on the stock in a research note on Thursday, August 4th. SVB Leerink began coverage on shares of Morphic in a research report on Wednesday, July 20th. They set an "outperform" rating and a $45.00 price target for the company. Royal Bank of Canada cut their price target on shares of Morphic from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, August 4th. BMO Capital Markets restated a "buy" rating and set a $83.00 price target on shares of Morphic in a research report on Friday, August 5th. Finally, Stifel Nicolaus assumed coverage on shares of Morphic in a research report on Tuesday, September 6th. They set a "buy" rating and a $44.00 price target for the company.
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Morphic Stock Down 1.6 %
MORF opened at $29.56 on Thursday. The stock has a market cap of $1.14 billion, a PE ratio of -20.67 and a beta of 1.46. Morphic has a 52 week low of $19.23 and a 52 week high of $68.75. The business's fifty day simple moving average is $27.87 and its 200 day simple moving average is $30.24.
Institutional Trading of Morphic
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd increased its stake in shares of Morphic by 983.3% during the fourth quarter. Point72 Hong Kong Ltd now owns 715 shares of the company's stock valued at $34,000 after purchasing an additional 649 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Morphic during the second quarter valued at approximately $28,000. UBS Group AG bought a new stake in shares of Morphic during the first quarter valued at approximately $54,000. Group One Trading L.P. bought a new stake in shares of Morphic during the first quarter valued at approximately $56,000. Finally, Amalgamated Bank bought a new stake in shares of Morphic during the first quarter valued at approximately $138,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
Morphic Company Profile
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Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, metabolic diseases, as well as fibrosis and cancer. Its lead product candidates are MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation that is in Phase 1 clinical trial for the treatment of inflammatory bowel disease; and preclinical trial to treat idiopathic pulmonary fibrosis and fibrosis diseases.
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