Nomura Maintains a Buy Rating on Galapagos (GLPG)
Nomura analyst Christopher Marai maintained a Buy rating on Galapagos (GLPG) yesterday and set a price target of $290.00. The company’s shares closed last Monday at $238.08.
According to TipRanks.com, Marai is a 4-star analyst with an average return of 3.2% and a 47.3% success rate. Marai covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Protagonist Therapeutics, and Alexion Pharmaceuticals.
Currently, the analyst consensus on Galapagos is a Hold with an average price target of $235.30, a -4.8% downside from current levels. In a report issued on February 21, Cowen & Co. also maintained a Buy rating on the stock.
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Based on Galapagos’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $402 million. In comparison, last year the company had a net profit of $17.07 million.
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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.