Morphic Holding, Inc. (NASDAQ:MORF) Receives Average Rating of “Moderate Buy” from Analysts

Morphic Holding, Inc. (NASDAQ:MORFGet Free Report) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $59.75.

A number of research analysts recently weighed in on MORF shares. Leerink Partnrs restated an “outperform” rating on shares of Morphic in a research note on Monday, October 16th. Citigroup assumed coverage on shares of Morphic in a report on Friday, December 8th. They set a “buy” rating and a $46.00 price target on the stock.

View Our Latest Research Report on Morphic

Insider Transactions at Morphic

In related news, CEO Praveen P. Tipirneni sold 13,923 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $27.49, for a total transaction of $382,743.27. Following the completion of the transaction, the chief executive officer now owns 42,013 shares of the company’s stock, valued at $1,154,937.37. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Marc Schegerin sold 6,041 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $27.49, for a total transaction of $166,067.09. Following the completion of the sale, the chief financial officer now owns 37,460 shares of the company’s stock, valued at $1,029,775.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Praveen P. Tipirneni sold 13,923 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $27.49, for a total transaction of $382,743.27. Following the transaction, the chief executive officer now owns 42,013 shares in the company, valued at $1,154,937.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,876 shares of company stock worth $986,231. Company insiders own 28.10% of the company’s stock.

Hedge Funds Weigh In On Morphic

Several large investors have recently made changes to their positions in MORF. Bank of New York Mellon Corp increased its position in shares of Morphic by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 88,123 shares of the company’s stock valued at $3,317,000 after purchasing an additional 232 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of Morphic by 20.5% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 1,663 shares of the company’s stock valued at $95,000 after buying an additional 283 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Morphic by 3.8% in the 4th quarter. Legal & General Group Plc now owns 8,472 shares of the company’s stock valued at $227,000 after buying an additional 309 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Morphic by 63.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 951 shares of the company’s stock valued at $36,000 after buying an additional 369 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Morphic by 28.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,513 shares of the company’s stock valued at $144,000 after buying an additional 557 shares in the last quarter. 80.66% of the stock is currently owned by institutional investors and hedge funds.

Morphic Trading Up 1.5 %

NASDAQ:MORF opened at $40.31 on Thursday. Morphic has a 12 month low of $19.34 and a 12 month high of $63.08. The company has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $34.11. The company has a market cap of $2.01 billion, a PE ratio of -12.64 and a beta of 1.41.

Morphic Company Profile

(Get Free Report

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.

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Analyst Recommendations for Morphic (NASDAQ:MORF)

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