MorphoSys price target raised by $7 at Wells Fargo, here’s why

Wells Fargo raised the firm’s price target on MorphoSys to $17 from $10 and keeps an Overweight rating on the shares. A regulatory KOL put the odds of pelabresib’s approval in myelofibrosis at 85%, which is much higher than what is priced into the stock, the analyst tells investors in a research note.