MorphoSys (NASDAQ:MOR) upgraded to Hold by Zacks Investment Research
MorphoSys (NASDAQ:MOR – Get an assessment) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note released Wednesday, Zacks.com reports.
According to Zacks, “MorphoSys AG is a biopharmaceutical company. It develops treatments for cancer, inflammation and autoimmune diseases. The company’s proprietary portfolio consists of MOR208, MOR202, MOR103, MOR106 and MOR107. Its flagship project of partnership programs includes Tremfya(R) and Gantenerumab. MorphoSys AG is based in Planegg, Germany.”
MOR has been the subject of several other reports. JMP Securities restated a “buy” rating and set a target price of $40.00 on MorphoSys shares in a Monday, December 13 research report. Morgan Stanley downgraded shares of MorphoSys from an “overweight” rating to an “equally weighted” rating and lowered its target price for the stock from $22.00 to $14.00 in a Friday 14 research report. January. Eleven investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.07.
Shares of NASDAQ MOR opened at $6.01 on Wednesday. MorphoSys has a 1 year minimum of $5.76 and a 1 year maximum of $25.86. The stock has a market capitalization of $822.94 million, a P/E ratio of -4.55 and a beta of 1.06. The company has a 50-day moving average of $7.81 and a 200-day moving average of $10.17. The company has a debt ratio of 0.47, a current ratio of 5.00 and a quick ratio of 4.95.
A number of institutional investors have recently increased or reduced their stake in the stock. BlackRock Inc. increased its stake in MorphoSys shares by 10.5% during the 3rd quarter. BlackRock Inc. now owns 855,138 shares of the company worth $10,057,000 after acquiring an additional 81,321 shares during the period. Millennium Management LLC increased its stake in MorphoSys by 41.5% in the 4th quarter. Millennium Management LLC now owns 560,285 shares of the company valued at $5,278,000 after purchasing an additional 164,446 shares during the period. Candriam Luxembourg SCA increased its stake in MorphoSys by 1.9% during the fourth quarter. Candriam Luxembourg SCA now owns 273,835 shares of the company worth $7,705,000 after purchasing an additional 5,000 shares during the period. Hudson Bay Capital Management LP acquired a new stake in MorphoSys during the third quarter valued at approximately $2,528,000. Finally, AlphaCentric Advisors LLC acquired a new position in shares of MorphoSys during the fourth quarter worth approximately $1,371,000. 1.75% of the shares are currently held by hedge funds and other institutional investors.
About MorphoSys (Get a rating)
MorphoSys AG engages in the development of antibodies for therapeutic, diagnostic and research applications. It operates through proprietary development and partnership discovery segments. The Proprietary Development segment combines proprietary research and development of therapeutic compounds. The Partnered Discovery segment offers technologies to manufacture human antibody therapies on behalf of pharmaceutical industry partners.
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