RBC Capital lowered the firm’s price target on Morphic to $76 from $80 but keeps an Outperform rating on the shares. The company’s Q3 update was “largely incremental” with execution seen as a focus in the quarter, the analyst tells investors in a research note. Morphic also continues in data generation mode with eyes on the randomized EMERALD-2 data expected in the first half of 2025 to strengthen MORF-057’s validation in IBD, the firm added.
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