Morphic’s (MORF) Hold Rating Reiterated at TD Cowen

TD Cowen reiterated their hold rating on shares of Morphic (NASDAQ:MORF) in a research report report published on Tuesday morning, MarketBeat Ratings reports.

A number of other research firms also recently issued reports on MORF. Royal Bank of Canada restated a sector perform rating and issued a $57.00 price target (down from $70.00) on shares of Morphic in a research note on Tuesday. BMO Capital Markets restated a market perform rating and issued a $57.00 price target (up from $52.00) on shares of Morphic in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Morphic presently has a consensus rating of Hold and an average target price of $53.60.

Morphic Trading Up 0.0 %

Shares of MORF opened at $55.75 on Tuesday. The business’s fifty day simple moving average is $32.10 and its two-hundred day simple moving average is $32.14. Morphic has a 12 month low of $19.34 and a 12 month high of $62.08.

Morphic (NASDAQ:MORF) last issued its earnings results on Thursday, April 25th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.05. Equities analysts expect that Morphic will post -4.07 earnings per share for the current year.

Insider Activity at Morphic

In related news, CFO Marc Schegerin sold 43,936 shares of Morphic stock in a transaction on Monday, July 8th. The stock was sold at an average price of $55.80, for a total transaction of $2,451,628.80. Following the transaction, the chief financial officer now directly owns 37,907 shares in the company, valued at $2,115,210.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Morphic news, CAO Robert E. Farrell, Jr. sold 30,272 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the sale, the chief accounting officer now directly owns 13,781 shares of the company’s stock, valued at $768,979.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marc Schegerin sold 43,936 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $55.80, for a total value of $2,451,628.80. Following the sale, the chief financial officer now directly owns 37,907 shares in the company, valued at $2,115,210.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,790 shares of company stock worth $7,018,566. Corporate insiders own 25.60% of the company’s stock.

Institutional Investors Weigh In On Morphic

Institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC bought a new stake in Morphic during the first quarter valued at about $35,000. China Universal Asset Management Co. Ltd. raised its holdings in Morphic by 364.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock valued at $166,000 after acquiring an additional 4,515 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of Morphic in the first quarter worth about $223,000. Arizona State Retirement System bought a new stake in shares of Morphic in the fourth quarter worth about $232,000. Finally, DNB Asset Management AS increased its holdings in shares of Morphic by 9.3% in the second quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock worth $245,000 after purchasing an additional 614 shares during the last quarter. 94.25% of the stock is owned by institutional investors.

Morphic Company Profile

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, an a4ß7-specific integrin inhibitor affecting inflammation is in Phase 2 clinical trials for the treatment of inflammatory bowel disease.