Morphic (NASDAQ:MORF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Zacks.com reports. The firm presently has a $18.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 1.87% from the stock’s previous close.

According to Zacks, “Morphic Holding Inc. is a biopharmaceutical company. It focuses on the discovery and development of oral small-molecule integrin therapeutics for autoimmune, cardiovascular and metabolic diseases, as well as fibrosis and cancer. Morphic Holding Inc. is based in Waltham, Massachusetts. “

MORF has been the subject of several other reports. Wells Fargo & Co started coverage on Morphic in a report on Monday, July 22nd. They issued an “outperform” rating for the company. Jefferies Financial Group started coverage on Morphic in a report on Monday, July 22nd. They issued a “buy” rating for the company. Cowen reiterated a “buy” rating on shares of Morphic in a report on Monday, August 12th. Finally, BMO Capital Markets boosted their price target on Morphic from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $25.00.

Shares of Morphic stock traded up $2.57 during trading on Friday, hitting $17.67. 3,705 shares of the company were exchanged, compared to its average volume of 48,617. Morphic has a fifty-two week low of $12.03 and a fifty-two week high of $33.50. The stock has a 50 day moving average of $14.95.

Morphic (NASDAQ:MORF) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.15. The company had revenue of $5.68 million for the quarter, compared to analyst estimates of $6.40 million. As a group, equities research analysts expect that Morphic will post -2.75 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Glen Harbor Capital Management LLC acquired a new position in Morphic in the 2nd quarter valued at $97,000. Tyers Asset Management LLC acquired a new position in Morphic in the 2nd quarter valued at $134,000. Flinton Capital Management LLC purchased a new stake in shares of Morphic during the 2nd quarter valued at $170,000. Neuburgh Advisers LLC purchased a new stake in shares of Morphic during the 2nd quarter valued at $207,000. Finally, Tiverton Asset Management LLC purchased a new stake in shares of Morphic during the 2nd quarter valued at $870,000.

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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