Morphosys plunges after GS cuts to 'neutral'

Morphosys AG

16/12/2022 11:57

** Morphosys' stock  MORG.DE  drops around 15% after Goldman
Sachs downgrades the German biotech group to "sell" from
"neutral" 
    ** The broker cites disappointing Q3 sales, increasing
competitive headwinds and limited catalysts over the next twelve
months as reasons for the downgrade
    ** Including today's fall the stock has dropped by 62.82%
YTD
    ** If losses hold, it will see its worst day since November
14, when it closed 29.2% lower
    ** Out of 12 analysts that cover Morphosys, five rate the
stock "strong buy" or "buy", ​three rate it "hold" and four​
rate the stock "strong sell" or "sell"
 (Reporting by Linda Pasquini and Tristan Chabba)
 ((Linda.pasquini@thomsonreuters.com))