Morphic (NASDAQ:MORF) had its price objective hoisted by BMO Capital Markets from $30.00 to $32.00 in a research note released on Tuesday, BenzingaRatingsTable reports. BMO Capital Markets currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group started coverage on Morphic in a report on Monday, July 22nd. They issued a buy rating on the stock. Wells Fargo & Co started coverage on Morphic in a report on Monday, July 22nd. They issued an outperform rating on the stock. Finally, Cowen reiterated a buy rating on shares of Morphic in a report on Monday.

Morphic stock opened at $23.99 on Tuesday. Morphic has a 12-month low of $15.72 and a 12-month high of $33.50.

Morphic (NASDAQ:MORF) last posted its quarterly earnings results on Monday, August 12th. The company reported ($4.73) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($4.33). The company had revenue of $5.57 million during the quarter, compared to analyst estimates of $8.60 million. As a group, analysts anticipate that Morphic will post -1.38 EPS for the current year.

In related news, major shareholder Fund V. Gp L.P. Omega bought 133,333 shares of Morphic stock in a transaction on Monday, July 1st. The shares were purchased at an average price of $15.00 per share, for a total transaction of $1,999,995.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy A. Springer bought 33,333 shares of Morphic stock in a transaction on Monday, July 1st. The shares were bought at an average price of $15.00 per share, for a total transaction of $499,995.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 833,333 shares of company stock worth $12,499,995.

Institutional investors and hedge funds have recently modified their holdings of the business. Omega Fund Management LLC acquired a new position in shares of Morphic during the 2nd quarter worth $58,857,000. Pictet Asset Management Ltd. acquired a new position in shares of Morphic during the 2nd quarter worth $4,958,000. Glen Harbor Capital Management LLC acquired a new position in shares of Morphic during the 2nd quarter worth $97,000. Tyers Asset Management LLC acquired a new position in shares of Morphic during the 2nd quarter worth $134,000. Finally, Flinton Capital Management LLC acquired a new position in shares of Morphic during the 2nd quarter worth $170,000. Hedge funds and other institutional investors own 0.03% of the company’s stock.

Morphic Company Profile

Morphic Holding, Inc, a biopharmaceutical company, focuses on the discovery and development of oral small-molecule integrin therapeutics. The company's lead product candidates in clinical development are MORF-720, a selective oral avb6 specific integrin inhibitor for the treatment of idiopathic pulmonary fibrosis; and a4b7 specific integrin inhibitors for the treatment of inflammatory bowel disease.

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