Morphic (NASDAQ:MORF) PT Raised to $57.00 at Stifel Nicolaus

Morphic (NASDAQ:MORF) had its target price upped by Stifel Nicolaus from $30.00 to $57.00 in a report released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. TD Cowen reiterated a hold rating on shares of Morphic in a research note on Tuesday, July 9th. Royal Bank of Canada restated a sector perform rating and issued a $57.00 target price (down from $70.00) on shares of Morphic in a research note on Tuesday, July 9th. Finally, BMO Capital Markets restated a market perform rating and issued a $57.00 target price (up from $52.00) on shares of Morphic in a research note on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Morphic presently has a consensus rating of Hold and a consensus target price of $54.25.

Morphic Stock Performance

NASDAQ MORF opened at $56.55 on Monday. The firm’s 50 day moving average price is $36.94 and its 200-day moving average price is $33.89. Morphic has a 52-week low of $19.34 and a 52-week high of $62.08. The company has a market cap of $2.83 billion, a PE ratio of -16.16 and a beta of 1.50.

Morphic (NASDAQ:MORF) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.91) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.05. On average, analysts forecast that Morphic will post -4.07 earnings per share for the current fiscal year.

Insider Transactions at Morphic

In other news, CFO Marc Schegerin sold 43,936 shares of Morphic stock in a transaction on 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, President Bruce Rogers sold 20,000 shares of Morphic stock in a transaction on Monday, July 8th. The shares were sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the completion of the sale, the president now directly owns 149,883 shares in the company, valued at $8,361,972.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief financial officer now owns 37,907 shares of the company’s stock, valued at $2,115,210.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,790 shares of company stock worth $7,018,566. Company insiders own 25.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LRI Investments LLC purchased a new position in shares of Morphic during the first quarter worth $35,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Morphic by 364.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,753 shares of the company’s stock worth $166,000 after purchasing an additional 4,515 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Morphic during the first quarter worth $223,000. DNB Asset Management AS raised its holdings in shares of Morphic by 9.3% during 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. Finally, Arizona State Retirement System purchased a new position in shares of Morphic during the fourth quarter worth $232,000. Hedge funds and other institutional investors own 94.25% of the company’s stock.

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.