MorphoSys upgraded to Hold from Sell at Deutsche Bank

Deutsche Bank analyst Emmanuel Papadakis upgraded MorphoSys to Hold from Sell with a price target of EUR 25, up from EUR 13. The analyst says myelofibrosis is a $2.5B space of increasing relevance for E.U. pharma following GSK’s 2022 $1.9B Sierra Oncology deal. The firm increased estimates for MorphoSys’ asset pelabresib and consequently upgraded the shares to Hold.