BMO Capital analyst Evan Seigerman maintained a Buy rating on Morphic Holding (MORF – Research Report) today and set a price target of $52.00.
Evan Seigerman based his Buy rating for Morphic Holding’s stock (MORF) on several key aspects. Firstly, he pointed out the company’s solid financial position, with $725M in cash/equivalents, which suggests funding until the second half of 2027. This financial stability allows for the company’s planned phase 3 study for MORF-057 to proceed unhindered. Additionally, Seigerman highlighted the return of CEO Praveen Tipirneni, who is expected to contribute positively to the company’s performance following his recovery from health issues.
Seigerman also underscored the successful EMERALD-1 trial which met its goal, thereby maintaining the outlook for MORF-057 in ulcerative colitis and Crohn’s disease. He projected the U.S. peak revenues to be around $3.4B with a 2028 launch, pricing 25% below Entyvio. European peak revenues were estimated to be around $1.5B, priced 30% lower than the U.S. The analyst also pointed out upcoming catalysts such as the initiation of clinical trials for MORF-088 and a Phase 2b study of MORF-057 in Crohn’s Disease. He also acknowledged the potential of Morphic’s MInT platform to generate safe and effective oral small molecule modulators targeting the integrin receptor family.
According to TipRanks, Seigerman is a 4-star analyst with an average return of 5.6% and a 45.41% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Eli Lilly & Co, Amgen, and Biogen.
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Morphic Holding (MORF) Company Description:
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. Springer in August 2014 and is headquartered in Waltham, MA.
Read More on MORF:
- Morphic Announces Corporate Highlights and Financial Results for the Third Quarter 2023
- Morphic expects cash to fund operations through second half of 2027
- Morphic reports Q3 EPS (73c), consensus (95c)
- Morphic Therapeutic to Host Webcast to Present EMERALD-1 Full Data Set
- Biotech Alert: Searches spiking for these stocks today
