Morphic Holding (NASDAQ:MORF) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four analysts have rated the stock with a strong buy rating.
Brokers have set a 12-month consensus target price of $32.67 for the company and are forecasting that the company will post ($0.42) earnings per share for the current quarter, according to Zacks. Zacks has also given Morphic an industry rank of 79 out of 256 based on the ratings given to its competitors.
A number of analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Morphic from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Wells Fargo & Co assumed coverage on shares of Morphic in a research report on Monday, July 22nd. They set an “outperform” rating for the company. Cowen reissued a “buy” rating on shares of Morphic in a research report on Monday, August 12th. Finally, Jefferies Financial Group started coverage on shares of Morphic in a research report on Monday, July 22nd. They set a “buy” rating for the company.
Shares of NASDAQ MORF traded down $2.43 on Monday, reaching $19.05. 139,500 shares of the company traded hands, compared to its average volume of 75,049. Morphic has a fifty-two week low of $15.72 and a fifty-two week high of $33.50. The firm’s 50 day moving average is $21.90.
Morphic (NASDAQ:MORF) last posted its quarterly earnings data on Monday, August 12th. The company reported ($4.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($4.33). The firm had revenue of $5.57 million for the quarter, compared to the consensus estimate of $8.60 million. On average, analysts expect that Morphic will post -1.95 EPS for the current fiscal year.
In related news, major shareholder Fund V. Gp L.P. Omega purchased 133,333 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was purchased at an average price of $15.00 per share, for a total transaction of $1,999,995.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Holdings A/S Novo purchased 666,667 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $15.00 per share, with a total value of $10,000,005.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 833,333 shares of company stock valued at $12,499,995.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glen Harbor Capital Management LLC purchased a new position in Morphic in the 2nd quarter worth approximately $97,000. Tyers Asset Management LLC purchased a new position in Morphic in the 2nd quarter worth approximately $134,000. Flinton Capital Management LLC purchased a new position in shares of Morphic during the 2nd quarter valued at approximately $170,000. Neuburgh Advisers LLC purchased a new position in shares of Morphic during the 2nd quarter valued at approximately $207,000. Finally, Tiverton Asset Management LLC purchased a new position in shares of Morphic during the 2nd quarter valued at approximately $870,000.
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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