Morphic (NASDAQ:MORF) Announces Earnings Results

Morphic (NASDAQ:MORF) issued its quarterly earnings data on Thursday. The company reported ($1.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.19), Zacks reports.

Morphic Stock Down 0.1 %

Morphic stock traded down $0.06 during mid-day trading on Friday, hitting $56.55. 1,406,891 shares of the company’s stock traded hands, compared to its average volume of 5,416,917. The firm has a 50 day moving average price of $37.97 and a 200 day moving average price of $34.28. The company has a market cap of $2.83 billion, a PE ratio of -16.16 and a beta of 1.50. Morphic has a one year low of $19.34 and a one year high of $62.08.

Analysts Set New Price Targets

A number of research firms have commented on MORF. TD Cowen reaffirmed a “hold” rating on shares of Morphic in a report on Tuesday, July 9th. BMO Capital Markets reaffirmed a “market perform” rating and set a $57.00 target price (up previously from $52.00) on shares of Morphic in a report on Tuesday, July 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $57.00 target price on shares of Morphic in a report on Friday. Finally, Stifel Nicolaus increased their target price on Morphic from $30.00 to $57.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $54.25.

Insider Buying and Selling at Morphic

In other Morphic news, President Bruce Rogers sold 20,000 shares of Morphic stock in a transaction on Monday, July 8th. The stock was sold at an average price of $55.79, for a total transaction of $1,115,800.00. Following the sale, the president now owns 149,883 shares of the company’s stock, valued at approximately $8,361,972.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Robert E. Farrell, Jr. sold 30,272 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 $1,689,177.60. Following the transaction, the chief accounting officer now directly owns 13,781 shares in the company, valued at approximately $768,979.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $1,115,800.00. Following the transaction, the president now owns 149,883 shares in the company, valued at $8,361,972.57. The disclosure for this sale can be found here. Insiders have sold 125,790 shares of company stock valued at $7,018,566 in the last quarter. Corporate insiders own 25.60% 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.