Cowen reiterated their buy rating on shares of Morphic (NASDAQ:MORF) in a report published on Monday, AnalystRatings.com reports.

Several other research firms have also weighed in on MORF. BMO Capital Markets assumed coverage on shares of Morphic in a report on Monday, July 22nd. They set an outperform rating and a $30.00 target price on the stock. Wells Fargo & Co assumed coverage on shares of Morphic in a report on Monday, July 22nd. They set an outperform rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Morphic in a report on Monday, July 22nd. They set a buy rating on the stock.

Shares of MORF opened at $22.38 on Monday. Morphic has a fifty-two week low of $15.72 and a fifty-two week high of $33.50.

Morphic (NASDAQ:MORF) last announced its quarterly earnings results on Monday, August 12th. The company reported ($4.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by ($4.33). The business had revenue of $5.57 million for the quarter, compared to the consensus estimate of $8.60 million. Equities research analysts expect that Morphic will post -1.38 EPS for the current year.

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

A number of hedge funds have recently modified their holdings of MORF. Glen Harbor Capital Management LLC acquired a new position in Morphic in the 2nd quarter worth $97,000. Tyers Asset Management LLC acquired a new position in Morphic in the 2nd quarter worth $134,000. Flinton Capital Management LLC acquired a new position in Morphic in the 2nd quarter worth $170,000. Neuburgh Advisers LLC acquired a new position in Morphic in the 2nd quarter worth $207,000. Finally, Tiverton Asset Management LLC acquired a new position in Morphic in the 2nd quarter worth $870,000. 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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