MorphoSys: Bryan Garnier maintains 'buy' rating.

(CercleFinance.com) - On Tuesday Bryan Garnier reiterated its "buy" rating on German biotech MorphoSys, while keeping its "fair value" estimate on the stock at 65 euros, representing upside potential of 40%.


The analyst believes that the next ASCO meeting could trigger a further re-rating of the stock, especially if positive data were to be published.

Bryan Garnier also thinks that the overall potential downside has been substantially reduced after the presentation of "impressive" phase III results in plaque psoriasis.

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