Morphic Holding (NASDAQ:MORF) Receives Consensus Rating of “Strong Buy” from Brokerages

Morphic Holding (NASDAQ:MORF) has been given an average broker rating score of 1.00 (Strong Buy) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy rating.

Brokers have set a 1-year consensus price target of $32.00 for the company and are predicting that the company will post ($0.34) EPS for the current quarter, according to Zacks. Zacks has also assigned Morphic an industry rank of 97 out of 256 based on the ratings given to its competitors.

A number of analysts recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Morphic in a research report on Monday. BMO Capital Markets increased their price target on Morphic from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group assumed coverage on Morphic in a research report on Monday, July 22nd. They set a “buy” rating for the company. Finally, Wells Fargo & Co assumed coverage on Morphic in a research report on Monday, July 22nd. They set an “outperform” rating for the company.

In other Morphic news, major shareholder Fund V. Gp L.P. Omega purchased 133,333 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average cost of $15.00 per share, with a total value of $1,999,995.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Holdings A/S Novo purchased 666,667 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $15.00 per share, with a total value of $10,000,005.00. The disclosure for this purchase can be found here. Insiders have purchased 833,333 shares of company stock valued at $12,499,995 over the last ninety days.

A number of hedge funds and other institutional investors have recently made changes to their positions in MORF. Novo Holdings A S bought a new stake in Morphic during the 2nd quarter valued at approximately $52,433,000. Marshall Wace North America L.P. bought a new stake in shares of Morphic in the 2nd quarter worth approximately $2,136,000. Vanguard Group Inc. bought a new stake in shares of Morphic in the 2nd quarter worth approximately $1,515,000. Omega Fund Management LLC bought a new stake in shares of Morphic in the 2nd quarter worth approximately $58,857,000. Finally, Pictet Asset Management Ltd. bought a new stake in shares of Morphic in the 2nd quarter worth approximately $4,958,000. 0.03% of the stock is owned by institutional investors and hedge funds.

Shares of Morphic stock traded down $1.61 on Wednesday, hitting $22.38. The company had a trading volume of 143,033 shares, compared to its average volume of 83,792. Morphic has a 1 year low of $15.72 and a 1 year high of $33.50.

Morphic (NASDAQ:MORF) last issued its quarterly earnings data on Monday, August 12th. The company reported ($4.73) EPS for the quarter, missing the consensus estimate of ($0.40) by ($4.33). The firm had revenue of $5.57 million during the quarter, compared to analysts’ expectations of $8.60 million. On average, equities research analysts predict that Morphic will post -1.38 earnings per share for the current fiscal year.

Morphic Company Profile

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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