FRANKFURT (dpa-AFX) - After a few days of profit-taking, a very optimistic analyst study is driving the Morphosys rally again on Friday. After a double upgrade by JPMorgan, the share price rose six percent in advance on the Tradegate platform compared to the Xetra close to 27.41 euros and thus back towards the 30-euro mark, which was reached last week for the first time since the beginning of 2022. The pre-Borussia gains would now have doubled the share price again this year, making the securities the second-best value in the SDax after Redcare Pharmacy.

The U.S. bank turned its vote from "Underweight" to "Overweight" with a price target tripled to 36 euros. However, the old target of 12 euros was also quite significantly below the massively increased price. Analyst James Gordon's research focuses on the company's bone marrow cancer drug pelabresib, for which Phase III trial data are due at the end of the year. "It's more likely that the trial will be a success than that the drug will fail," the expert said. And even with a calculated 50/50 chance, there is a lot of potential with a target price of 36 euros./tih/jha/