MorphoSys AG (NASDAQ:MOR) Forecasted to Post Q2 2024 Earnings of ($0.50) Per Share

MorphoSys AG (NASDAQ:MOR) – Stock analysts at Leerink Partnrs boosted their Q2 2024 EPS estimates for MorphoSys in a research report issued on Wednesday, July 24th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings per share of ($0.50) for the quarter, up from their previous forecast of ($0.54). The consensus estimate for MorphoSys’ current full-year earnings is ($2.42) per share. Leerink Partnrs also issued estimates for MorphoSys’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.32) EPS and FY2024 earnings at ($2.74) EPS.

MorphoSys Stock Down 0.2 %

MOR opened at $18.57 on Monday. The company has a debt-to-equity ratio of 4.98, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $2.80 billion, a PE ratio of -5.34 and a beta of 1.20. The stock’s fifty day moving average is $18.38 and its 200-day moving average is $17.26. MorphoSys has a one year low of $4.18 and a one year high of $19.50.

MorphoSys (NASDAQ:MOR) last released its earnings results on Monday, April 29th. The company reported ($2.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($1.73). MorphoSys had a negative return on equity of 694.31% and a negative net margin of 226.79%. The firm had revenue of $29.86 million during the quarter, compared to analyst estimates of $48.99 million.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in MorphoSys by 47.9% in the second quarter. GAMMA Investing LLC now owns 2,874 shares of the company’s stock worth $52,000 after buying an additional 931 shares during the last quarter. Quadrant Capital Group LLC lifted its position 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 valued at $55,000 after acquiring an additional 3,744 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of MorphoSys during the 4th quarter worth $244,000. SAL Trading LLC acquired a new position in shares of MorphoSys in the 1st quarter worth $486,000. Finally, BNP Paribas Financial Markets raised its position 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 worth $590,000 after purchasing an additional 18,413 shares during the period. 18.38% of the stock is owned by institutional investors and hedge funds.

MorphoSys Company Profile

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.