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After the strong sell-off in Morphosys shares in the past few days, the stock is trying to stabilize. Recently, a number of analysts have also spoken out. However, the estimates vary widely - the price targets range from 10.00 euros at the lower end to 47.00 euros at the upper end.
Analysis of the current situation
Phase 3 trial results for pelabresib for the treatment of myelofibrosis have been released and were not as positive as hoped. While the primary endpoint was met, there were disappointments with the secondary endpoints. This led to a series of price target cuts from analysts, with the most pessimistic forecasts being €10.00. As a result, there is a possibility that market authorities could refuse to approve the drug, which could lead to significant financing problems for Morphosys as investors express concerns about the company's financing.
Potential impact on the market
The slide in the price of Morphosys shares is expected to result in the share price settling in the cash holdings range at EUR 18.79 per share in the medium term, which is in the range of the analysts' lower forecasts. The upcoming presentation at the ASH conference on December 9th will be crucial to restoring investor confidence in the drug's potential.
(With material from dpa-AFX)
According to a report by www.deraktionaer.de,