GALAPAGOS NV/S (NASDAQ:GLPG) had its price target boosted by equities researchers at Morgan Stanley from $127.00 to $131.00 in a research report issued to clients and investors on Monday. The firm presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s target price indicates a potential upside of 22.92% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research raised GALAPAGOS NV/S from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Tuesday, October 30th. Nomura increased 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, October 30th. 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 raised GALAPAGOS NV/S from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, JPMorgan Chase & Co. assumed coverage on GALAPAGOS NV/S in a report on Wednesday, September 12th. They set an “overweight” rating and a $140.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. GALAPAGOS NV/S currently has a consensus rating of “Buy” and an average price target of $117.00.
GLPG traded down $0.28 during trading on Monday, hitting $106.57. 4,090 shares of the company’s stock traded hands, compared to its average volume of 153,053. GALAPAGOS NV/S has a 12-month low of $84.13 and a 12-month high of $122.28. The company has a market cap of $5.47 billion, a price-to-earnings ratio of -40.37 and a beta of 1.91.
GALAPAGOS NV/S (NASDAQ:GLPG) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.41. The firm had revenue of $59.27 million for the quarter, compared to analysts’ expectations of $50.58 million. GALAPAGOS NV/S had a negative return on equity of 7.66% and a negative net margin of 30.65%. Equities analysts expect that GALAPAGOS NV/S will post -1.89 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd bought a new position in GALAPAGOS NV/S in the 2nd quarter worth $221,000. Financial Gravity Wealth Inc. raised its holdings in GALAPAGOS NV/S by 64.1% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 2,261 shares of the biotechnology company’s stock worth $225,000 after purchasing an additional 883 shares during the period. Provident Investment Management Inc. bought a new position in GALAPAGOS NV/S in the 2nd quarter worth $249,000. Moody National Bank Trust Division bought a new position in GALAPAGOS NV/S in the 3rd quarter worth $394,000. Finally, Stanley Laman Group Ltd. bought a new position in GALAPAGOS NV/S in the 2nd quarter worth $720,000. 14.54% of the stock is currently owned by hedge funds and other institutional investors.
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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