Zacks Investment Research upgraded shares of GALAPAGOS NV/S (NASDAQ:GLPG) from a hold rating to a buy rating in a research note released on Tuesday. They currently have $112.00 price objective on the biotechnology company’s stock.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
A number of other research analysts also recently weighed in on GLPG. ValuEngine upgraded GALAPAGOS NV/S from a hold rating to a buy rating in a report on Monday, July 2nd. Nomura lifted their price target on GALAPAGOS NV/S from $124.00 to $140.00 and gave the company a buy rating in a report on Tuesday. Credit Suisse Group lowered their price target on GALAPAGOS NV/S from $92.00 to $90.00 and set a hold rating on the stock in a report on Friday, October 26th. BidaskClub upgraded GALAPAGOS NV/S from a sell rating to a hold rating in a report on Friday, October 19th. Finally, Morgan Stanley lifted their price target on GALAPAGOS NV/S from $125.00 to $126.00 and gave the company an overweight rating in a report on Friday, July 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. GALAPAGOS NV/S presently has an average rating of Buy and an average price target of $116.50.
GALAPAGOS NV/S (NASDAQ:GLPG) last issued its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.41. GALAPAGOS NV/S had a negative return on equity of 13.26% and a negative net margin of 70.80%. The business had revenue of $59.27 million for the quarter, compared to the consensus estimate of $50.58 million. As a group, analysts expect that GALAPAGOS NV/S will post -1.98 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. AMP Capital Investors Ltd purchased a new position in GALAPAGOS NV/S in the second quarter valued at about $221,000. Provident Investment Management Inc. purchased a new position in GALAPAGOS NV/S in the second quarter valued at about $249,000. Stanley Laman Group Ltd. purchased a new position in GALAPAGOS NV/S in the second quarter valued at about $720,000. Bank of America Corp DE grew its stake in GALAPAGOS NV/S by 11.7% in the second quarter. Bank of America Corp DE now owns 9,758 shares of the biotechnology company’s stock valued at $899,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Macquarie Group Ltd. grew its stake in GALAPAGOS NV/S by 13.5% in the second quarter. Macquarie Group Ltd. now owns 9,865 shares of the biotechnology company’s stock valued at $909,000 after purchasing an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors own 14.55% of the company’s stock.
GALAPAGOS NV/S Company Profile
Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes novel medicines. Its clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis and Crohn's disease, Phase 2/3 trials for ulcerative colitis, and Phase II trials for multiple additional indications; GLPG1690, an autotaxin inhibitor, which is in Phase III clinical trial for the treatment of idiopathic pulmonary fibrosis; GLPG1972 that completed Phase 1b clinical trial for the treatment of osteoarthritis; and MOR106, which is in Phase II trials for atopic dermatitis patients.
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