MorphoSys (NASDAQ:MOR) Trading Down 4.9%

MorphoSys AG (NASDAQ:MOR) shares dropped 4.9% during mid-day trading on Friday . The company traded as low as $20.40 and last traded at $20.46. Approximately 1,459 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 62,581 shares. The stock had previously closed at $21.51.

A number of research firms have weighed in on MOR. Zacks Investment Research cut shares of MorphoSys from a “hold” rating to a “sell” rating in a report on Tuesday. SVB Leerink upgraded shares of MorphoSys from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 3rd. Bryan, Garnier & Co downgraded shares of MorphoSys from a “buy” rating to a “neutral” rating in a research note on Thursday, June 3rd. JPMorgan Chase & Co. downgraded shares of MorphoSys from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $32.00 to $24.00 in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of MorphoSys in a report on Thursday, April 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $30.00.

The stock has a market capitalization of $2.68 billion, a P/E ratio of -13.08 and a beta of 0.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.22 and a quick ratio of 6.15. The stock’s 50 day simple moving average is $21.89.

MorphoSys (NASDAQ:MOR) last posted its quarterly earnings results on Monday, March 15th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.42. The firm had revenue of $42.99 million during the quarter. MorphoSys had a negative net margin of 137.43% and a negative return on equity of 28.33%. On average, analysts forecast that MorphoSys AG will post -2.2 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MOR. Optiver Holding B.V. acquired a new position in MorphoSys during the first quarter worth $3,064,000. Eqis Capital Management Inc. acquired a new stake in shares of MorphoSys in the first quarter valued at about $963,000. Henry James International Management Inc. grew its position in MorphoSys by 62.4% during the first quarter. Henry James International Management Inc. now owns 91,112 shares of the company’s stock worth $1,986,000 after buying an additional 35,000 shares during the period. Jane Street Group LLC purchased a new stake in shares of MorphoSys in the 4th quarter worth about $868,000. Finally, Renaissance Technologies LLC acquired a new stake in MorphoSys in the 1st quarter valued at about $362,000. 1.58% of the stock is owned by institutional investors and hedge funds.

About MorphoSys (NASDAQ:MOR)

MorphoSys AG, together with its subsidiaries, discovers, develops and commercializes therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. Its lead product candidate is Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B cell lymphoma and chronic lymphocytic leukemia.

Further Reading: Golden Cross

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