MorphoSys (XTRA:MOR) - Share price, News & Analysis

MOR fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

MOR Stock Overview

Rewards

Revenue is forecast to grow 30.31% per year

Risk Analysis

Currently unprofitable and not forecast to become profitable over the next 3 years

Shareholders have been diluted in the past year

MorphoSys Competitors

Biotest

XTRA:BIO3

€1.5b

Bristol-Myers Squibb

NYSE:BMY

US$162.2b

Sartorius

XTRA:SRT

€22.5b

Genmab

CPSE:GMAB

kr.142.6b

Price History & Performance

Summary of all time highs, changes and price drops for MorphoSys
Historical stock prices
Current Share Price	€19.63
52 Week High	€72.84
52 Week Low	€16.45
Beta	0.88
1 Month Change	-18.65%
3 Month Change	-18.17%
1 Year Change	-72.22%
3 Year Change	-79.05%
5 Year Change	-69.98%
Change since IPO	190.82%

Shareholder Returns

	MOR	DE Biotechs	DE Market
7D	6.3%	4.3%	-0.09%
1Y	-72.2%	-31.4%	-12.9%

Return vs Industry: MOR underperformed the German Biotechs industry which returned -31.4% over the past year.

Return vs Market: MOR underperformed the German Market which returned -12.9% over the past year.

Price Volatility

Is MOR's price volatile compared to industry and market?
MOR volatility
MOR Average Weekly Movement	8.2%
Biotechs Industry Average Movement	8.0%
Market Average Movement	6.3%
10% most volatile stocks in DE Market	10.6%
10% least volatile stocks in DE Market	3.5%

Stable Share Price: MOR is not significantly more volatile than the rest of German stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: MOR's weekly volatility (8%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1992	652	Jean-Paul Kress	https://www.morphosys.com

MorphoSys AG, a commercial-stage biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutic antibodies for patients suffering from cancer and autoimmune diseases in the United States. It offers Tafasitamab, an antibody for the treatment of B cell malignancies, including diffuse large B-cell lymphoma, follicular lymphoma, and marginal zone lymphoma. The company also develops Pelabresib, a small molecule that is in Phase II clinical trial to treat myelofibrosis; Felzartamab, an antibody directed against CD38, which is in Phase I/II clinical trials for the treatment of anti-PLA2R-positive membranous nephropathy, an autoimmune disease; and CPI-0209, a small molecule that is in Phase I/II designed to promote anti-tumor activity by inhibiting EZH2.

MorphoSys Fundamentals Summary

How do MorphoSys's earnings and revenue compare to its market cap?
MOR fundamental statistics
Market Cap	€670.34m
Earnings (TTM)	-€595.50m
Revenue (TTM)	€173.89m

3.9x

P/S Ratio

-1.1x

P/E Ratio

Is MOR overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
MOR income statement (TTM)
Revenue	€173.89m
Cost of Revenue	€35.04m
Gross Profit	€138.85m
Other Expenses	€734.35m
Earnings	-€595.50m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 03, 2022

Earnings per share (EPS)	-17.44
Gross Margin	79.85%
Net Profit Margin	-342.46%
Debt/Equity Ratio	202.0%

How did MOR perform over the long term?

See historical performance and comparison

Valuation

Is MorphoSys undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

4.73x

Price to Book (PB) ratio

Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate MOR's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate MOR's fair value for valuation analysis.

Price To Earnings Ratio

PE vs Industry: MOR is unprofitable, so we can't compare its PE Ratio to the European Biotechs industry average.

PE vs Market: MOR is unprofitable, so we can't compare its PE Ratio to the German market.

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MOR's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: MOR is overvalued based on its PB Ratio (4.7x) compared to the DE Biotechs industry average (1.5x).

Future Growth

How is MorphoSys forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

45.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MOR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MOR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MOR's revenue (30.3% per year) is forecast to grow faster than the German market (4.7% per year).

High Growth Revenue: MOR's revenue (30.3% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: MOR is forecast to be unprofitable in 3 years.

Past Performance

How has MorphoSys performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-33.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MOR is currently unprofitable.

Growing Profit Margin: MOR is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: MOR is unprofitable, and losses have increased over the past 5 years at a rate of 33.2% per year.

Accelerating Growth: Unable to compare MOR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MOR is unprofitable, making it difficult to compare its past year earnings growth to the Biotechs industry (-6.2%).

Return on Equity

High ROE: MOR has a negative Return on Equity (-420.14%), as it is currently unprofitable.

Financial Health

How is MorphoSys's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: MOR's short term assets (€1.0B) exceed its short term liabilities (€239.0M).

Long Term Liabilities: MOR's short term assets (€1.0B) do not cover its long term liabilities (€2.1B).

Debt to Equity History and Analysis

Debt Level: MOR has more cash than its total debt.

Reducing Debt: MOR's debt to equity ratio has increased from 0.05% to 202% over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: MOR has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: MOR has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of 41.7% each year

Dividend

What is MorphoSys's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate MOR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MOR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MOR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MOR's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as MOR has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure

CEO

Jean-Paul Kress (56 yo)

2.67yrs

Tenure

€1,935,300

Compensation

Dr. Jean-Paul Kress, M.D. has been the Chief Executive Officer of MorphoSys AG since September 1, 2019 and has been its Management Board Member since 2019 and serves as its Chairman of Management Board and...

CEO Compensation Analysis

Compensation vs Market: Jean-Paul's total compensation ($USD2.04M) is above average for companies of similar size in the German market ($USD1.32M).

Compensation vs Earnings: Jean-Paul's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: MOR's management team is considered experienced (2.3 years average tenure).

Board Members

Experienced Board: MOR's board of directors are considered experienced (5.7 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.2%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31