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Morphic (NASDAQ:MORF) Gets Market Perform Rating from BMO Capital Markets

Morphic (NASDAQ:MORF) Gets Market Perform Rating from BMO Capital Markets

Morphic (NASDAQ:MORFGet a Free Report)BMO Capital Markets analysts reissued a “market perform” rating on the company’s stock in a report released Tuesday. Benzinga Reports. They currently have a price target of $57.00 on the stock, up from the previous price target of $52.00. BMO Capital Markets’ target price suggests a potential upside of 2.26% from the stock’s current price.

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a target price of $57.00, down from $70.00, on shares of Morphic in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The average rating for the company is a “Hold” and the average target price is $53.60, according to data from MarketBeat.

Read Our Latest Stock Report on Morphic

Morphic Stock Performance

NASDAQ ORFU It opened at $55.74 on Tuesday. The company has a market cap of $2.79 billion, a P/E ratio of -15.93 and a beta of 1.50. Morphic has a one-year low of $19.34 and a one-year high of $62.08. The stock’s 50-day moving average price is $31.56 and its 200-day moving average price is $31.97.

Morphic (NASDAQ:MORFGet a Free Report) released its latest earnings results on Thursday, April 25. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.05. As a group, equities analysts predict that Morphic will post -4.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, the President Bruce Rogers He sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $55.79, for a total value of $1,115,800.00. Following the completion of the sale, the chairman now directly owns 149,883 shares of the company, valued at $8,361,972.57. The sale was disclosed in a filing with the SEC, which can be accessed at: this linkIn other news, the President Bruce Rogers He sold 20,000 shares of Morphic stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the completion of the sale, the chairman now directly owns 149,883 shares of stock in the company, valued at $8,361,972.57. The transaction was disclosed in a filing with the SEC, which can be accessed at: SEC websiteAlso, CEO Praveen P. Tipirneni sold 21,582 shares of Morphic stock in a transaction on Monday, July 8. The stock was sold at an average price of $55.79, for a total value of $1,204,059.78. Following the sale, the CEO now owns 42,460 shares of the company’s stock, valued at $2,368,843.40. A disclosure regarding this sale can be found at: HereA total of 125,790 company shares were sold by company insiders in the last three months, with a value of $7,018,566. 25.60% of the shares are owned by insiders.

Hedge Funds Are Weighing in on Morphic

Several institutional investors have recently made changes to their positions in the company. Point72 Asset Management LP increased its stake in shares of Morphic by 83.3% in the fourth quarter. Point72 Asset Management LP now owns 4,591,000 shares of the company’s stock worth $132,588,000 after purchasing an additional 2,086,617 shares during the period. Wellington Management Group LLP increased its stake in shares of Morphic by 48.5% in the third quarter. Wellington Management Group LLP now owns 3,421,820 shares of the company’s stock worth $78,394,000 after purchasing an additional 1,117,985 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Morphic by 13.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,523,586 shares of the company’s stock worth $88,831,000 after purchasing an additional 300,958 shares during the period. Artal Group SA increased its stake in Morphic shares by 3.5% in the first quarter. Artal Group SA now owns 2,213,188 shares of the company’s stock worth $77,904,000 after purchasing an additional 75,000 shares during the period. Finally, Vanguard Group Inc. increased its stake in Morphic shares by 10.5% in the third quarter. Vanguard Group Inc. now owns 2,107,410 shares of the company’s stock worth $48,281,000 after purchasing an additional 200,772 shares during the period. The company’s stock is 94.25% in the hands of hedge funds and other institutional investors.

Morphic Company Profile

(Get a Free Report)

Morphic Holding, Inc., a biopharmaceutical company, discovers and develops oral small molecule integrin therapeutics for the treatment of autoimmune, cardiovascular and metabolic diseases, as well as fibrosis and cancer. Its lead product candidate, MORF-057, is an α4ß7-specific integrin inhibitor that affects inflammation and is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.

Further reading

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