Morgan Stanley sees little scope for rising prices in the shares of the biotech company Morphosys. The previous price target of 105 euros for the TecDAX value is confirmed, which continues to be rated “equal weight” in a biotech industry study. Morgan Stanley sees little impetus for rising share prices in the Morphosys share in the short term.
Most recently, Morphosys reported a change in the position of CFO, which was vacant after Jens Holstein had left. Sung Lee has been appointed to the post. He will take office on February 2nd. Lee comes from Sangamo Therapeutics, where he was also the Chief Financial Officer. Prior to that, he worked for Gilead Sciences and Tax Advisory at PriceWaterhouseCoopers. He studied in California.
Holstein left the biotech company in December. Marc Cluzel, Chairman of the Board of Directors of MorphoSys, praised the new CFO: “Sung Lee brings many years of experience to the Board of Directors and has an excellent track record of expanding companies and leading investor relations and finance in the US and Europe.” CEO Jean-Paul Kress adds: “We are convinced that Sung Lee, with his future-oriented way of thinking, will provide decisive impetus in the implementation of our ambitious growth strategy and the accelerated development of our pipeline in the interests of the patients.”
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