MorphoSys Q3 Adj Sales $69.44M Beat $59.33M Estimate
Portfolio Pulse from Benzinga Newsdesk
MorphoSys (NASDAQ:MOR) reported Q3 adjusted sales of $69.44M, surpassing the analyst consensus estimate of $59.33M by 17.04%. However, this represents a 28.10% decrease from the $96.58M in sales reported in the same period last year.
November 15, 2023 | 9:03 pm
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NEUTRAL IMPACT
MorphoSys reported higher-than-expected Q3 sales but experienced a significant year-over-year decline.
While the beat on sales estimates is positive, the substantial year-over-year decline may temper investor enthusiasm, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100