MorphoSys (NASDAQ:MOR) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of MorphoSys (NASDAQ:MOR) from a hold rating to a sell rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “MorphoSys AG is a biopharmaceutical company. It develops treatment for cancer, inflammations and autoimmune diseases. The company’s proprietary portfolio consists of MOR208, MOR202, MOR103, MOR106 and MOR107. Its partnered programs lighthouse project includes Tremfya(R) and Gantenerumab. MorphoSys AG is based in Planegg, Germany. “

Several other brokerages have also recently commented on MOR. SVB Leerink upgraded MorphoSys from a market perform rating to an outperform rating in a report on Thursday, June 3rd. JPMorgan Chase & Co. restated an overweight rating on shares of MorphoSys in a report on Friday, May 21st. Bryan, Garnier & Co cut MorphoSys from a buy rating to a neutral rating in a report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft restated a buy rating on shares of MorphoSys in a report on Thursday, April 8th. Finally, Morgan Stanley upgraded MorphoSys from an equal weight rating to an overweight rating and set a $28.00 target price on the stock in a report on Monday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $33.00.

Shares of NASDAQ:MOR opened at $21.51 on Tuesday. The company has a fifty day moving average of $21.89. MorphoSys has a fifty-two week low of $18.55 and a fifty-two week high of $35.73. The company has a market capitalization of $2.83 billion, a PE ratio of -13.79 and a beta of 0.97. The company has a quick ratio of 6.15, a current ratio of 6.22 and a debt-to-equity ratio of 0.47.

MorphoSys (NASDAQ:MOR) last announced its quarterly earnings results on Monday, March 15th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $42.99 million for the quarter. Equities research analysts forecast that MorphoSys will post -2.2 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Comerica Bank acquired a new position in MorphoSys in the fourth quarter valued at about $208,000. OneAscent Wealth Management LLC acquired a new position in MorphoSys in the fourth quarter valued at about $264,000. Vident Investment Advisory LLC lifted its stake in MorphoSys by 35.4% in the fourth quarter. Vident Investment Advisory LLC now owns 58,814 shares of the company’s stock valued at $1,667,000 after buying an additional 15,384 shares during the period. Jane Street Group LLC acquired a new position in MorphoSys in the fourth quarter valued at about $868,000. Finally, JPMorgan Chase & Co. lifted its stake in MorphoSys by 1,179.7% in the fourth 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 period. Institutional investors and hedge funds own 1.58% of the company’s stock.

MorphoSys Company Profile

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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