MorphoSys (NASDAQ:MOR) Hits New 1-Year High at $18.38

MorphoSys AG (NASDAQ:MOR - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $18.38 and last traded at $18.30, with a volume of 88336 shares changing hands. The stock had previously closed at $18.07.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company reiterated an "equal weight" rating and set a $18.25 target price (up previously from $17.00) on shares of MorphoSys in a research report on Thursday, March 14th. Morgan Stanley restated an "equal weight" rating on shares of MorphoSys in a research report on Friday, January 19th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.78.

MorphoSys Price Performance

The company has a 50-day moving average of $18.00 and a 200-day moving average of $13.22. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of -5.28 and a beta of 1.15.

MorphoSys (NASDAQ:MOR - Get Free Report) last posted its quarterly earnings data on Wednesday, March 13th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of ($0.92) by $1.25. The business had revenue of $63.53 million for the quarter, compared to analysts' expectations of $76.30 million. MorphoSys had a negative net margin of 226.79% and a negative return on equity of 694.31%. As a group, research analysts anticipate that MorphoSys AG will post -2.08 EPS for the current fiscal year.

Institutional Investors Weigh In On MorphoSys

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOR. Quadrant Capital Group LLC boosted its holdings in shares of MorphoSys by 204.8% in the 4th quarter. Quadrant Capital Group LLC now owns 5,572 shares of the company's stock valued at $55,000 after buying an additional 3,744 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in MorphoSys by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,437 shares of the company's stock valued at $173,000 after acquiring an additional 4,421 shares during the last quarter. Virtu Financial LLC bought a new position in shares of MorphoSys in the 4th quarter valued at about $244,000. Henry James International Management Inc. acquired a new position in shares of MorphoSys during the 4th quarter worth about $426,000. Finally, SAL Trading LLC bought a new stake in shares of MorphoSys in the 1st quarter valued at about $486,000. 18.38% of the stock is owned by institutional investors.

MorphoSys Company Profile

MorphoSys AG, together with its subsidiaries, engages in the development and commercialization of therapeutics for patients suffering from various cancers in Europe, Asia, and the United States. The company's product pipeline includes Pelabresib that is in Phase 3 trials to treat myelofibrosis and thrombocythemia; Tulmimetostat, a product candidate in Phase 1/2 trials for the treatment of solid tumors and lymphomas; Felzartamab, an antibody directed against CD38 for renal autoimmune diseases and relapsed/refractory multiple myeloma; Ianalumab, a candidate in Phase 3 clinical trials for Sjögren's disease, lupus nephritis, and other autoimmune diseases; Abelacimab that is in Phase 3 trials for venous thromboembolism prevention and cancer-associated thrombosis; Setrusumab, which is in Phase 2/3 trials for osteogenesis imperfecta; and Bimagrumab, a product candidate in Phase 2b trials for adult obesity.