Morphic (NASDAQ:MORF) Earns Market Perform Rating from BMO Capital Markets

BMO Capital Markets reiterated their market perform rating on shares of Morphic (NASDAQ:MORF) in a research report released on Tuesday, Marketbeat reports. The firm currently has a $57.00 target price on the stock, up from their prior target price of $52.00.

Separately, Royal Bank of Canada reissued a sector perform rating and set a $57.00 target price (down from $70.00) on shares of Morphic in a report on Tuesday. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $53.60.

Morphic Price Performance

Shares of NASDAQ:MORF opened at $55.75 on Tuesday. Morphic has a 1-year low of $19.34 and a 1-year high of $62.08. The company’s fifty day moving average is $32.10 and its two-hundred day moving average is $32.14.

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

Insider Buying and Selling

In other Morphic news, 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 transaction of $2,451,628.80. Following the transaction, the chief financial officer now owns 37,907 shares of the company’s stock, valued at approximately $2,115,210.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $55.80, for a total transaction of $1,689,177.60. Following the transaction, the chief accounting officer now owns 13,781 shares of the company’s stock, valued at approximately $768,979.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $2,451,628.80. Following the transaction, the chief financial officer now directly owns 37,907 shares in the company, valued at approximately $2,115,210.60. The disclosure for this sale can be found here. Insiders have sold a total of 125,790 shares of company stock valued at $7,018,566 in the last quarter. Company insiders own 25.60% of the company’s stock.

Hedge Funds Weigh In On Morphic

Several large investors have recently bought and sold shares of the stock. DNB Asset Management AS increased its stake in Morphic by 9.3% during the 2nd quarter. DNB Asset Management AS now owns 7,202 shares of the company’s stock valued at $245,000 after buying an additional 614 shares during the period. Teachers Retirement System of The State of Kentucky grew its stake in shares of Morphic by 14.8% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 17,167 shares of the company’s stock worth $604,000 after purchasing an additional 2,216 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Morphic in the 1st quarter worth approximately $35,000. Artal Group S.A. grew its stake in shares of Morphic by 3.5% in the 1st quarter. Artal Group S.A. now owns 2,213,188 shares of the company’s stock worth $77,904,000 after purchasing an additional 75,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Morphic by 13.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,523,586 shares of the company’s stock worth $88,831,000 after purchasing an additional 300,958 shares during the last quarter. Institutional investors and hedge funds own 94.25% of the company’s stock.

About Morphic

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.