MorphoSys (MOR)

Business description

MorphoSys is a German biotechnology company that uses its proprietary antibody platforms to produce human antibodies for therapeutic use across a range of indications for partners and to develop its own pipeline.

Share price chart

Share chart

Stock data

Market cap.€2054.5m
Last close€77.82
High / Low (52 weeks)€78.6 / €53.0
Stock market listingDE
Forecast net cash (€m)257.2
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual6.29.140.1
Relative *(3.7)5.531.3

* % Relative to local index

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Company news

GlobeNewswire/MorphoSys AG berichtet Ergebnisse -2-

Fri, 07 Nov 2014 06:35:05 GMT

MorphoSys AG Reports Results for the First Nine Months of 2014

Fri, 07 Nov 2014 06:11:15 GMT

Ad hoc: MorphoSys Updates its 2014 Financial Guidance

Wed, 22 Oct 2014 21:56:15 GMT

MorphoSys to Host Q3 2014 Conference Call on 07 November 2014

Thu, 30 Oct 2014 16:07:30 GMT

Emergent BioSolutions Strikes Deal With MorphoSys Over Cancer Drug

Wed, 20 Aug 2014 19:18:45 GMT

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (c) P/E (x) P/CF (x)
2012A 51.9 8.8 7.1 27.9 278.9 861.7
2013A 78.0 18.1 14.0 43.5 178.9 21.1
2014E 62.4 (2.5) (1.2) (0.4) N/A N/A
2015E 62.4 (25.9) (25.1) (62.4) N/A N/A

Last updated on 24/11/2014

Investment summary

The licensing deal to co-develop MOR209 in castration-resistant prostate cancer (CRPC) with Emergent Biosolutions adds another high-potential antibody to MorphoSys’s proprietary pipeline. Meanwhile, the expansion of the MOR202 Phase I/II trial delays study completion, but optimises the antibody’s market positioning. Phase II data with MOR208 highlights its potential in subgroups of non-Hodgkin’s lymphoma (NHL). There are now 18 antibodies in its partnered pipeline, and J&J has recently advanced guselkumab into Phase III for psoriasis. We raise our valuation to €2.04bn.

Last updated on 24/11/2014

Industry outlook

The pharmaceutical industry is out-licensing more drug discovery and developing more biological products, both trends that should benefit MorphoSys. Also, there is increasing demand for novel therapies, such as those in MorphoSys's proprietary pipeline.

Last updated on 03/11/2014

Key management

Gerald Moller, Chairman
Simon E. Moroney, CEO
Jens Holstein, CFO

Company address

Lena-Christ-Str. 48
82152 Martinsried/Planegg
Germany
+49 (0)89 / 899 27-0
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