Leerink Partnrs Comments on MorphoSys AG’s Q2 2024 Earnings (NASDAQ:MOR)

MorphoSys AG (NASDAQ:MORFree Report) – Investment analysts at Leerink Partnrs lifted their Q2 2024 earnings estimates for shares of MorphoSys in a note issued to investors on Wednesday, May 15th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($0.54) per share for the quarter, up from their prior forecast of ($0.56). The consensus estimate for MorphoSys’ current full-year earnings is ($2.43) per share. Leerink Partnrs also issued estimates for MorphoSys’ Q3 2024 earnings at ($0.43) EPS, Q4 2024 earnings at ($0.41) EPS, FY2024 earnings at ($2.76) EPS, FY2025 earnings at ($1.82) EPS, FY2026 earnings at ($1.27) EPS and FY2027 earnings at ($1.26) EPS.

MorphoSys (NASDAQ:MORGet Free Report) last released its quarterly earnings data on Monday, April 29th. The company reported ($2.24) EPS for the quarter, missing the consensus estimate of ($0.51) by ($1.73). MorphoSys had a negative net margin of 226.79% and a negative return on equity of 694.31%. The business had revenue of $29.86 million for the quarter, compared to analysts’ expectations of $48.99 million.

Separately, Wells Fargo & Company reiterated an “equal weight” rating and set a $18.25 price target (up previously from $17.00) on shares of MorphoSys in a research report on Thursday, March 14th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, MorphoSys currently has an average rating of “Hold” and a consensus target price of $11.78.

Read Our Latest Report on MOR

MorphoSys Price Performance

MOR stock opened at $18.51 on Monday. The firm has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $13.60. The stock has a market cap of $2.79 billion, a PE ratio of -5.32 and a beta of 1.15. MorphoSys has a one year low of $4.18 and a one year high of $19.50. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.38 and a quick ratio of 1.38.

Hedge Funds Weigh In On MorphoSys

Several institutional investors have recently bought and sold shares of MOR. Quadrant Capital Group LLC boosted its stake in shares of MorphoSys by 204.8% during the 4th quarter. Quadrant Capital Group LLC now owns 5,572 shares of the company’s stock worth $55,000 after purchasing an additional 3,744 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of MorphoSys by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,437 shares of the company’s stock valued at $173,000 after buying an additional 4,421 shares during the period. BNP Paribas Financial Markets grew its stake in shares of MorphoSys by 130.4% during the first quarter. BNP Paribas Financial Markets now owns 32,533 shares of the company’s stock valued at $590,000 after buying an additional 18,413 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of MorphoSys in the fourth quarter worth approximately $244,000. Finally, SAL Trading LLC purchased a new stake in shares of MorphoSys in the first quarter worth approximately $486,000. 18.38% of the stock is owned by hedge funds and other institutional investors.

About MorphoSys

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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.

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Earnings History and Estimates for MorphoSys (NASDAQ:MOR)

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