Morphic Holding (NASDAQ:MORF) has been given a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price target of $29.33 for the company and are predicting that the company will post ($0.39) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Morphic an industry rank of 57 out of 256 based on the ratings given to related companies.
Several equities analysts have issued reports on MORF shares. Cowen started coverage on Morphic in a research report on Monday, July 22nd. They set an “outperform” rating on the stock. Jefferies Financial Group cut Janus Henderson Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $36.56 to $35.11 in a research report on Monday, July 22nd. BMO Capital Markets dropped their target price on West Fraser Timber from C$78.00 to C$74.00 in a research report on Monday, July 22nd. Finally, Wells Fargo & Co cut Zions Bancorporation NA from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $62.00 to $50.00 in a research report on Monday, July 22nd.
NASDAQ MORF traded up $0.73 on Tuesday, hitting $21.11. 13,700 shares of the company’s stock were exchanged, compared to its average volume of 92,236. Morphic has a fifty-two week low of $15.72 and a fifty-two week high of $25.19.
In other news, major shareholder Fund V. Gp L.P. Omega purchased 133,333 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $15.00 per share, for a total transaction of $1,999,995.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Holdings A/S Novo purchased 666,667 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $10,000,005.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 833,333 shares of company stock worth $12,499,995 in the last quarter.
Morphic Holding, Inc, a biopharmaceutical company, focuses on the discovery and development of oral small-molecule integrin therapeutics. The company's lead product candidates in clinical development are MORF-720, a selective oral avb6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis; and a4b7 specific integrin inhibitors for the treatment of inflammatory bowel disease.
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