In a report released yesterday, Eliana Merle from Cantor Fitzgerald reiterated a Buy rating on Galapagos NV (GLPG), with a price target of $130. The company’s shares closed yesterday at $98.74.
Merle observed:
“We have updated our model for GLPG earnings. Not much was new from the quarterly call, but timelines remain on track for key pipeline updates in 2019. We think the company continues to sound upbeat around near-term FINCH 1 & 3 data expected by the end of 1Q19. We also found it encouraging that the company announced that it expects to complete enrollment in the Phase 2 PINTA trial in IPF by the end of the year, which sets up for Phase 2 IPF data from the company’s second IPF agent (GPR84 inhibitor) in 2H 2020, by our estimates. We remain bullish on GLPG shares because we think that filgotinib’s potential is still underappreciated and that internal R&D programs (e.g., Toledo, PINTA study) have the potential to surprise to the positive in the coming 12-24 months.”
According to TipRanks.com, Merle is a 1-star analyst with an average return of -7.5% and a 22.2% success rate. Merle covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, CymaBay Therapeutics, and AnaptysBio Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Galapagos NV with a $135 average price target, representing a 36.7% upside. In a report issued on February 22, Cowen & Co. also maintained a Buy rating on the stock.
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The company has a one-year high of $122.28 and a one-year low of $85. Currently, Galapagos NV has an average volume of 97.02K.
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Galapagos NV is a biotechnology company, which engages in the identification and development of small molecule and antibody therapies. It operates through the Research and Development and Fee-for-Services segment. The company was founded by Onno van de Stolpe, Rudi Pauwels, and Helmuth van Es on June 30, 1999 and is headquartered in Mechelen, Belgium.
