MorphoSys (NASDAQ:MOR) Shares Gap Down to $18.04

MorphoSys AG (NASDAQ:MOR - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $18.04, but opened at $17.55. MorphoSys shares last traded at $17.57, with a volume of 1,843,510 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an "equal weight" rating on shares of MorphoSys in a research note on Friday, January 19th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $18.25 price target (up from $17.00) on shares of MorphoSys in a research note on Thursday, March 14th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, MorphoSys presently has a consensus rating of "Hold" and a consensus target price of $11.78.

MorphoSys Trading Down 3.8 %

The business's 50 day moving average price is $17.95 and its two-hundred day moving average price is $12.36. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -11.13 and a beta of 1.17. The company has a debt-to-equity ratio of 4.98, a quick ratio of 2.84 and a current ratio of 3.08.

MorphoSys (NASDAQ:MOR - Get Free Report) last released its earnings results on Wednesday, March 13th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of ($0.92) by $1.25. MorphoSys had a negative net margin of 80.07% and a negative return on equity of 694.31%. The business had revenue of $63.53 million for the quarter, compared to the consensus estimate of $76.30 million. Equities analysts forecast that MorphoSys AG will post -2.08 earnings per share for the current fiscal year.

Institutional Trading of MorphoSys

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kynam Capital Management LP purchased a new stake in shares of MorphoSys during the fourth quarter valued at $41,923,000. TD Asset Management Inc raised its holdings in MorphoSys by 153.8% during the 4th quarter. TD Asset Management Inc now owns 361,138 shares of the company's stock worth $3,575,000 after buying an additional 218,870 shares during the period. Optiver Holding B.V. raised its holdings in MorphoSys by 8,577.2% during the 3rd quarter. Optiver Holding B.V. now owns 144,042 shares of the company's stock worth $968,000 after buying an additional 142,382 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in MorphoSys by 71.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 116,901 shares of the company's stock valued at $2,121,000 after buying an additional 48,710 shares in the last quarter. Finally, Henry James International Management Inc. acquired a new position in shares of MorphoSys in the fourth quarter worth about $426,000. 18.38% of the stock is currently owned by institutional investors.

About MorphoSys

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.