GALAPAGOS NV/S (NASDAQ:GLPG) Coverage Initiated at Bank of America

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Bank of America assumed coverage on shares of GALAPAGOS NV/S (NASDAQ:GLPG) in a research note published on Monday, Benzinga reports. The firm issued a neutral rating and a $199.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on GLPG. Royal Bank of Canada raised their target price on shares of GALAPAGOS NV/S from $152.00 to $158.00 and gave the stock a sector perform rating in a report on Friday, November 15th. Morgan Stanley decreased their target price on shares of GALAPAGOS NV/S to $193.00 and set an overweight rating for the company in a research note on Tuesday, October 29th. Zacks Investment Research cut GALAPAGOS NV/S from a buy rating to a hold rating in a report on Thursday, October 31st. ValuEngine downgraded GALAPAGOS NV/S from a buy rating to a hold rating in a research note on Wednesday, October 2nd. Finally, TheStreet raised GALAPAGOS NV/S from a c rating to a b rating in a report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. GALAPAGOS NV/S currently has an average rating of Buy and a consensus target price of $178.44.

NASDAQ:GLPG traded up $3.75 during mid-day trading on Monday, reaching $213.32. The company’s stock had a trading volume of 7,844 shares, compared to its average volume of 131,444. GALAPAGOS NV/S has a 12-month low of $85.00 and a 12-month high of $210.00. The firm’s fifty day moving average price is $182.14 and its two-hundred day moving average price is $158.12. The company has a current ratio of 8.95, a quick ratio of 8.95 and a debt-to-equity ratio of 0.01. The stock has a market cap of $11.49 billion, a P/E ratio of -323.38 and a beta of 1.58.

GALAPAGOS NV/S (NASDAQ:GLPG) last announced its quarterly earnings results on Thursday, October 24th. The biotechnology company reported $8.72 EPS for the quarter, topping analysts’ consensus estimates of ($1.41) by $10.13. GALAPAGOS NV/S had a net margin of 32.09% and a return on equity of 25.34%. The firm had revenue of $715.97 million during the quarter, compared to analyst estimates of $52.26 million. Analysts predict that GALAPAGOS NV/S will post 7.15 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of GLPG. Bessemer Group Inc. purchased a new position in shares of GALAPAGOS NV/S during the 2nd quarter valued at $48,447,000. Morgan Stanley lifted its stake in GALAPAGOS NV/S by 1.7% in the 2nd quarter. Morgan Stanley now owns 65,837 shares of the biotechnology company’s stock worth $8,488,000 after purchasing an additional 1,111 shares in the last quarter. State Street Corp boosted its holdings in shares of GALAPAGOS NV/S by 95.9% during the 3rd quarter. State Street Corp now owns 39,599 shares of the biotechnology company’s stock valued at $6,045,000 after purchasing an additional 19,384 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of GALAPAGOS NV/S by 35.0% during the 2nd quarter. Victory Capital Management Inc. now owns 32,826 shares of the biotechnology company’s stock valued at $4,232,000 after purchasing an additional 8,510 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in shares of GALAPAGOS NV/S by 134.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 29,300 shares of the biotechnology company’s stock valued at $3,778,000 after purchasing an additional 16,800 shares in the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

About GALAPAGOS NV/S

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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Analyst Recommendations for GALAPAGOS NV/S (NASDAQ:GLPG)

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