NEW YORK (dpa-AFX Broker) - U.S. investment bank Morgan Stanley downgraded Morphosys to "underweight" from "equal-weight" and cut its price target to 12.50 euros from 17 euros. Analyst James Quigley and colleague Mark Purcell expect investors to take a more defensive approach in the biopharma sector in a pharmaceutical sector report released Friday. The focus is likely to be on growth companies with sufficient earnings momentum and individual share price drivers - as a counter to weakening tailwinds from the U.S. dollar and the pandemic. Under these circumstances, the vote for Morphosys has been lowered./tih/edh

Publication of the original study: 06.01.2023

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