Morphic Holding, Inc. (NASDAQ:MORF) Given Average Rating of “Moderate Buy” by Analysts

Shares of Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $52.60.

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $57.00 target price (down from $70.00) on shares of Morphic in a report on Tuesday.

Read Our Latest Report on MORF

Institutional Trading of Morphic

A number of institutional investors and hedge funds have recently modified their holdings of MORF. Point72 Asset Management L.P. increased its position in shares of Morphic by 83.3% during the fourth quarter. Point72 Asset Management L.P. now owns 4,591,000 shares of the company’s stock valued at $132,588,000 after purchasing an additional 2,086,617 shares during the period. Wellington Management Group LLP grew its position in Morphic by 48.5% in the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock valued at $78,394,000 after acquiring an additional 1,117,985 shares during the period. Jennison Associates LLC bought a new stake in Morphic in the fourth quarter valued at $17,818,000. Price T Rowe Associates Inc. MD grew its position in Morphic by 13.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,523,586 shares of the company’s stock valued at $88,831,000 after acquiring an additional 300,958 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Morphic by 88.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 635,064 shares of the company’s stock valued at $18,341,000 after acquiring an additional 297,567 shares during the period. 94.25% of the stock is currently owned by institutional investors.

Morphic Stock Performance

MORF opened at $55.74 on Tuesday. The business has a 50 day moving average price of $30.44 and a 200 day moving average price of $31.62. Morphic has a twelve month low of $19.34 and a twelve month high of $62.08. The firm has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50.

Morphic (NASDAQ:MORFGet Free Report) last posted its earnings results on Thursday, April 25th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.05. As a group, analysts anticipate that Morphic will post -4.07 earnings per share for the current fiscal year.

Morphic Company Profile

(Get Free Report

Morphic Holding, Inc, a biopharmaceutical company, discovers and develops oral small-molecule integrin therapeutics for the treatment of autoimmune, cardiovascular, and metabolic diseases, as well as fibrosis and cancer. Its lead product candidate MORF-057, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.

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Analyst Recommendations for Morphic (NASDAQ:MORF)

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