Shares of Morphic Holding (NASDAQ:MORF) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $32.00.
MORF has been the topic of a number of recent research reports. BidaskClub downgraded Morphic from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Investment Research downgraded Morphic from a “buy” rating to a “hold” rating in a research report on Thursday, January 16th.
NASDAQ:MORF opened at $15.52 on Friday. The stock’s 50-day simple moving average is $18.90 and its 200 day simple moving average is $18.14. Morphic has a 52-week low of $12.03 and a 52-week high of $33.50.
Morphic (NASDAQ:MORF) last released its earnings results on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.15. The company had revenue of $5.68 million during the quarter, compared to analyst estimates of $6.40 million. On average, analysts anticipate that Morphic will post -2.11 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in MORF. FMR LLC increased its position in shares of Morphic by 20.5% in the fourth quarter. FMR LLC now owns 2,850,757 shares of the company’s stock valued at $48,919,000 after acquiring an additional 485,755 shares during the last quarter. Vanguard Group Inc. acquired a new position in Morphic during the second quarter worth approximately $1,515,000. State Street Corp acquired a new position in Morphic during the third quarter worth approximately $963,000. Squarepoint Ops LLC acquired a new position in Morphic during the third quarter worth approximately $554,000. Finally, Bank of New York Mellon Corp acquired a new position in Morphic during the fourth quarter worth approximately $189,000. 45.19% of the stock is currently owned by institutional investors and hedge funds.
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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