The brief slide in the price of Morphosys shares is causing some unrest in the stock market today and provoking headlines here and there. But meanwhile the minus in the biotech share has already decreased significantly, the TecDAX value is only 2.67 percent in the red and is listed at 112.80 euros. The slide to the daily low at 106.05 euros was probably caused by the outlook from Munich, from which one or the other probably expected more on the stock exchange, while Morphosys “only” confirmed the forecast.
In their initial comments, analysts have calmly received Morphosys’ quarterly figures and the company’s outlook. JP Morgan continues to rate the biotech share as “Overweight” and sees the price target at 130 euros. The company’s quarterly balance sheet was in line with expectations, say the analysts.
The reaction to the news published on Thursday night is similar at RBC: Morphosys shares continue to receive a “Sector Perform” from the analysts with a price target of EUR 130 as well. The equity experts did not find any major surprises in the numbers.