Morphic initiated with a Buy at Berenberg

Berenberg analyst Gaurav Goparaju initiated coverage of Morphic with a Buy rating and $75 price target. The company leverages its proprietary insight into integrins to enable development of oral-based drugs against integrin targets across major chronic disease areas, the analyst tells investors in a research note. The firm believes Morphic will continue to advance new discovery programs, progress its pre-clinical pipeline into the clinic, and develop its platform to become the leading source of integrin-focused drug discovery.