Wells Fargo analyst Derek Archila raised the firm’s price target on Morphic to $80 from $67 and keeps an Overweight rating on the shares after the company reports results from the EMERALD-1 Phase 2a study of MORF-057 in adults with moderate to severe ulcerative colitis, or UC. The firm sees higher odds of success in UC and Crohn’s disease, or CD, following what it views as "positive" data, the analyst tells investors.
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Published first on TheFly
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Read More on MORF:
- MORF Jumps after Positive Clinical Data
- Morphic reports results from EMERALD-1 Phase 2a study of MORF-057
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