Morphic (NASDAQ:MORF) Rating Reiterated by BMO Capital Markets

BMO Capital Markets reissued their buy rating on shares of Morphic (NASDAQ:MORF) in a research report sent to investors on Sunday morning, AnalystRatings.com reports.

A number of other research analysts also recently weighed in on MORF. Zacks Investment Research upgraded shares of Morphic from a sell rating to a hold rating in a report on Thursday, July 2nd. ValuEngine downgraded shares of Morphic from a buy rating to a hold rating in a report on Thursday, July 2nd. Finally, BidaskClub upgraded shares of Morphic from a hold rating to a buy rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $24.50.

Shares of NASDAQ:MORF opened at $25.00 on Friday. The firm has a fifty day moving average of $23.42 and a two-hundred day moving average of $18.02. The firm has a market capitalization of $790.39 million and a P/E ratio of -4.01. Morphic has a 12-month low of $9.90 and a 12-month high of $33.50.

Morphic (NASDAQ:MORF) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.07). The firm had revenue of $5.59 million for the quarter, compared to analyst estimates of $3.80 million. Sell-side analysts expect that Morphic will post -2.21 earnings per share for the current year.

In related news, CAO Robert E. Farrell, Jr. sold 13,319 shares of Morphic stock in a transaction on Friday, May 29th. The shares were sold at an average price of $20.17, for a total value of $268,644.23. Following the transaction, the chief accounting officer now owns 84,615 shares in the company, valued at approximately $1,706,684.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Robert E. Farrell, Jr. sold 6,681 shares of Morphic stock in a transaction on Monday, June 1st. The stock was sold at an average price of $20.35, for a total transaction of $135,958.35. Following the completion of the transaction, the chief accounting officer now owns 84,615 shares in the company, valued at approximately $1,721,915.25. The disclosure for this sale can be found here. Insiders sold a total of 81,417 shares of company stock worth $1,870,062 in the last quarter. Insiders own 39.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. increased its holdings in shares of Morphic by 111.8% during the 4th quarter. Meeder Asset Management Inc. now owns 1,398 shares of the company’s stock worth $25,000 after purchasing an additional 738 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Morphic by 72.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,836 shares of the company’s stock worth $37,000 after purchasing an additional 772 shares during the period. Citigroup Inc. increased its holdings in shares of Morphic by 210.4% during the 1st quarter. Citigroup Inc. now owns 3,082 shares of the company’s stock worth $45,000 after purchasing an additional 2,089 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Morphic by 326.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,440 shares of the company’s stock worth $50,000 after purchasing an additional 2,633 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Morphic by 102.0% during the 1st quarter. Deutsche Bank AG now owns 3,452 shares of the company’s stock worth $51,000 after purchasing an additional 1,743 shares during the period. Institutional investors own 57.30% of the company’s stock.

About Morphic

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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