Berenberg Bank analyst Zhiqiang Shu maintained a Buy rating on Morphosys Ag (MOR) today and set a price target of EUR140.00. The company’s shares closed last Thursday at $25.78.
Currently, the analyst consensus on Morphosys Ag is a Moderate Buy with an average price target of $103.18, implying a 299.8% upside from current levels. In a report released yesterday, JMP Securities also maintained a Buy rating on the stock with a $41.00 price target.
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Based on Morphosys Ag’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $18.43 million and GAAP net loss of $53.09 million. In comparison, last year the company earned revenue of $34.66 million and had a GAAP net loss of $5.86 million.
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MorphoSys AG engages in the development of antibodies for therapeutic, diagnostics, and research applications. It operates through the Proprietary Development and Partnered Discovery segments. The Proprietary Development segment combines proprietary research and development of therapeutic compounds. The Partnered Discovery segment offers technologies to make human antibody-based therapeutics on behalf of partners in the pharmaceutical industry. The company was founded by Andreas Pluckthun and Simon E. Moroney in July 1992 and is headquartered in Planegg, Germany.
