After catching up with the company, Piper Jaffray analyst Danielle Brill says all of MorphoSys’ operations are reportedly unaffected and FDA discussions for MOR208 remain on track. As such, the analyst does not see “anything negative to read into” with the news of CEO Simon Maroney’s plans to retire. Brill still anticipates a MOR208 Biologics License Application filing via accelerated pathway by the second half of 2019 with approval in the first half of 2020. The analyst recommends buying shares of MorphoSys on today’s weakness and keeps an Overweight rating on the name with a $38 price target. The stock in midday trading is down 59c to $26.86.
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