Morphic Holding, Inc. (NASDAQ:MORF – Get Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $27.69, but opened at $28.42. Morphic shares last traded at $27.91, with a volume of 128 shares trading hands.
Analysts Set New Price Targets
Several equities analysts recently issued reports on MORF shares. Royal Bank of Canada decreased their price objective on 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 issued a $83.00 target price on shares of Morphic in a research note on Friday, August 5th. Stifel Nicolaus initiated coverage on Morphic in a research note on Tuesday. They issued a “buy” rating and a $44.00 target price on the stock. SVB Leerink initiated coverage on Morphic in a research note on Wednesday, July 20th. They issued an “outperform” rating and a $45.00 target price on the stock. Finally, Wells Fargo & Company cut 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. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Morphic presently has a consensus rating of “Buy” and an average target price of $64.43.
Morphic Trading Up 3.2 %
The company has a market cap of $1.16 billion, a P/E ratio of -21.01 and a beta of 1.46. The business has a 50 day moving average price of $27.72 and a 200-day moving average price of $30.39.
Institutional Investors Weigh In On Morphic
Morphic Company Profile
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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