Morphic price target raised to $57 from $30 at Stifel

Stifel analyst Alex Thompson raised the firm’s price target on Morphic (MORF) to $57 from $30 and keeps a Hold rating on the shares. The firm is updating its model to reflect the recently-announced Eli Lilly (LLY) acquisition for $57 per share, telling investors that it views the likelihood of deal close as high.