MorphoSys AG (NASDAQ:MOR) Receives $11.78 Average PT from Analysts

Shares of MorphoSys AG (NASDAQ:MOR) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.78.

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

MorphoSys Price Performance

Shares of MOR opened at $18.04 on Friday. MorphoSys has a 52 week low of $4.18 and a 52 week high of $18.31. The company has a current ratio of 3.08, a quick ratio of 2.84 and a debt-to-equity ratio of 4.98. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of -11.56 and a beta of 1.17. The stock has a 50 day moving average of $17.95 and a 200-day moving average of $12.20.

MorphoSys (NASDAQ:MOR) last released its quarterly earnings data on Wednesday, March 13th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of ($0.92) by $1.25. The firm had revenue of $63.53 million during the quarter, compared to the consensus estimate 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 forecast that MorphoSys will post -2.08 EPS for the current year.

Hedge Funds Weigh In On MorphoSys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in MorphoSys by 204.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,572 shares of the company’s stock valued at $55,000 after acquiring an additional 3,744 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of MorphoSys by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,437 shares of the company’s stock worth $173,000 after purchasing an additional 4,421 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of MorphoSys during the fourth quarter valued at $244,000. Henry James International Management Inc. bought a new stake in shares of MorphoSys during the fourth quarter valued at about $426,000. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of MorphoSys by 71.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 116,901 shares of the company’s stock valued at $2,121,000 after purchasing an additional 48,710 shares in the last quarter. 18.38% of the stock is currently owned by institutional investors and hedge funds.

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.