After H.C. Wainwright and Berenberg Bank gave Galapagos NV (NASDAQ: GLPG) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Eliana Merle maintained a Buy rating on Galapagos NV today and set a price target of $130. The company’s shares opened today at $111.37.
Merle observed:
“. $130 PT. Galapagos hosted their 1Q EPS call this morning and the recent FINCH 1 & 3 RA filgotinib results and US path to market were in focus. No major updates on the clinical timelines or programs, in our view. What we found most notable is the strong progress that the company is making on enrollment of both the IPF and OA programs where GLPG has significant economics. We think it is possible that both franchises could have key readouts in the 2021 timeframe and we think there is relatively little baked into shares for these programs.”
According to TipRanks.com, Merle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -10.8% and a 33.3% success rate. Merle covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Aerpio Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.
Currently, the analyst consensus on Galapagos NV is a Strong Buy with an average price target of $135.20, representing a 21.4% upside. In a report issued on April 12, Berenberg Bank also reiterated a Buy rating on the stock.
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The company has a one-year high of $125.48 and a one-year low of $85. Currently, Galapagos NV has an average volume of 122.5K.
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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.
