MorphoSys (NASDAQ:MOR) Stock Price Down 4.9%

MorphoSys AG (NASDAQ:MOR) was down 4.9% during mid-day trading on Friday . The company traded as low as $20.40 and last traded at $20.46. Approximately 1,459 shares were traded during trading, a decline of 98% from the average daily volume of 62,581 shares. The stock had previously closed at $21.51.

A number of equities analysts recently commented on MOR shares. JPMorgan Chase & Co. lowered MorphoSys from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $32.00 to $24.00 in a report on Friday. Bryan, Garnier & Co downgraded MorphoSys from a “buy” rating to a “neutral” rating in a research report on Thursday, June 3rd. Zacks Investment Research lowered MorphoSys from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley raised shares of MorphoSys from an “equal weight” rating to an “overweight” rating and set a $28.00 price target for the company in a research report on Monday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of MorphoSys in a research note on Thursday, April 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.00.

The company has a debt-to-equity ratio of 0.47, a current ratio of 6.22 and a quick ratio of 6.15. The firm’s 50-day moving average is $21.89. The company has a market capitalization of $2.68 billion, a PE ratio of -13.08 and a beta of 0.97.

MorphoSys (NASDAQ:MOR) last posted its quarterly earnings results on Monday, March 15th. The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.57) by $0.42. MorphoSys had a negative return on equity of 28.33% and a negative net margin of 137.43%. The business had revenue of $42.99 million for the quarter. As a group, equities research analysts predict that MorphoSys AG will post -2.2 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of MorphoSys during the first quarter worth $73,000. JPMorgan Chase & Co. raised its stake in shares of MorphoSys by 1,179.7% during the 4th quarter. JPMorgan Chase & Co. now owns 3,404 shares of the company’s stock valued at $97,000 after buying an additional 3,138 shares during the last quarter. Comerica Bank acquired a new position in shares of MorphoSys in the 4th quarter valued at about $208,000. Capital Asset Advisory Services LLC acquired a new position in shares of MorphoSys in the 4th quarter valued at about $233,000. Finally, OneAscent Wealth Management LLC purchased a new stake in shares of MorphoSys in the fourth quarter worth about $264,000. Institutional investors and hedge funds own 1.58% of the company’s stock.

About MorphoSys (NASDAQ:MOR)

MorphoSys AG, together with its subsidiaries, discovers, develops and commercializes therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. Its lead product candidate is Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B cell lymphoma and chronic lymphocytic leukemia.

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