Current assessments of MorphoSys: Goldman Sachs lowers price target, UBS confirms buy recommendation, Deutsche Bank gives neutral rating - financial expert analysis

Current assessments of MorphoSys: Goldman Sachs lowers price target, UBS confirms buy recommendation, Deutsche Bank gives neutral rating - financial expert analysis

According to a report by www.4investors.de, the worse-than-expected clinical data from MorphoSys on the drug candidate Pelabresib led to a collapse in the TecDAX share price. This fell from 32.39 euros to 14.52 euros, which corresponds to a decrease of almost 55%.

Goldman Sachs significantly lowered its price target for MorphoSys and left the rating at neutral, which led to a decline in sales estimates for the cancer drug. UBS also maintained its positive assessment of MorphoSys, while Deutsche Bank maintained its previous valuation and target price of 25 euros.

The highly anticipated Phase 3 clinical data for pelabresib have been reported by MorphoSys. The biotech company wants to apply for approval in the USA and Europe based on the data. However, there is a real risk that the FDA and EMA will not grant approval because the study did not provide good data on an important secondary endpoint.

These negative developments could lead to further losses as investors' and financial institutions' confidence in the drug's commercialization and effectiveness is impaired. The approval chances for pelabresib are also at stake, which could affect MorphoSys' potential. Overall, the negative clinical data could have a short- and long-term impact on the market and the financial industry as it has severely undermined confidence in the company and its products.