MorphoSys AG (NASDAQ:MOR) Given Consensus Rating of “Hold” by Brokerages

Shares of MorphoSys AG (NASDAQ:MOR) have earned a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $11.78.

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of MorphoSys in a report on Friday, January 19th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $18.25 price target (up from $17.00) on shares of MorphoSys in a report on Thursday, March 14th.

Institutional Investors Weigh In On MorphoSys

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. increased its position in shares of MorphoSys by 71.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 116,901 shares of the company’s stock worth $2,121,000 after purchasing an additional 48,710 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of MorphoSys by 593.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 275,937 shares of the company’s stock worth $2,732,000 after purchasing an additional 236,171 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of MorphoSys in the 4th quarter worth about $244,000. Price T Rowe Associates Inc. MD bought a new stake in shares of MorphoSys in the 4th quarter worth about $26,855,000. Finally, Point72 Asset Management L.P. increased its position in shares of MorphoSys by 2,075.3% in the 4th quarter. Point72 Asset Management L.P. now owns 3,802,846 shares of the company’s stock worth $37,648,000 after purchasing an additional 3,628,028 shares during the last quarter. Institutional investors own 18.38% of the company’s stock.

MorphoSys Price Performance

MorphoSys stock opened at $17.98 on Friday. MorphoSys has a 52-week low of $4.18 and a 52-week high of $18.31. The firm has a fifty day moving average of $17.88 and a 200-day moving average of $11.78. The firm has a market capitalization of $2.71 billion, a P/E ratio of -11.53 and a beta of 1.17. The company has a quick ratio of 2.84, a current ratio of 3.08 and a debt-to-equity ratio of 4.98.

MorphoSys (NASDAQ:MOR) last released its quarterly earnings results on Wednesday, March 13th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $1.25. The business had revenue of $63.53 million during the quarter, compared to analyst estimates of $76.30 million. MorphoSys had a negative net margin of 80.07% and a negative return on equity of 694.31%. As a group, analysts predict that MorphoSys will post -2.08 EPS for the current year.

MorphoSys Company Profile

MorphoSys AG, together with its subsidiaries, engages in the development and commercialization of therapeutics for patients suffering from various cancers in Europe, Asia, and the United States. The company's product pipeline includes Pelabresib that is in Phase 3 trials to treat myelofibrosis and thrombocythemia; Tulmimetostat, a product candidate in Phase 1/2 trials for the treatment of solid tumors and lymphomas; Felzartamab, an antibody directed against CD38 for renal autoimmune diseases and relapsed/refractory multiple myeloma; Ianalumab, a candidate in Phase 3 clinical trials for Sjögren's disease, lupus nephritis, and other autoimmune diseases; Abelacimab that is in Phase 3 trials for venous thromboembolism prevention and cancer-associated thrombosis; Setrusumab, which is in Phase 2/3 trials for osteogenesis imperfecta; and Bimagrumab, a product candidate in Phase 2b trials for adult obesity.