Morphic Holding shares are trading lower after Stifel downgraded the stock from Buy to Hold and lowered its price target from $69 to $61.
Portfolio Pulse from Benzinga Newsdesk
Morphic Holding's stock has been downgraded from Buy to Hold by Stifel, which also lowered its price target from $69 to $61. This has resulted in a decrease in the trading price of Morphic Holding shares.
August 09, 2023 | 3:54 pm
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Morphic Holding's stock was downgraded by Stifel, leading to a decrease in its trading price. The price target was also lowered from $69 to $61.
The downgrade from Stifel is a negative signal to the market, which can lead to selling pressure and a decrease in the stock price. The lowering of the price target also indicates a less optimistic outlook for the stock, which can further drive the price down.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100