What Made H.C. Wainwright Downgrade Galapagos’ Stock?

Galapagos (GLPG) received a Hold rating and a $123.00 price target from H.C. Wainwright analyst Debjit Chattopadhyay today. The company’s shares closed last Friday at $137.16, close to its 52-week low of $112.00.

According to TipRanks.com, Chattopadhyay is a 5-star analyst with an average return of 13.6% and a 50.0% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Allogene Therapeutics, and Molecular Partners AG.

Galapagos has an analyst consensus of Hold, with a price target consensus of $163.26, which is a 18.0% upside from current levels. In a report issued on August 19, Barclays also downgraded the stock to Hold with a EUR140.00 price target.

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Based on Galapagos’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $98.17 million and GAAP net loss of $50.6 million. In comparison, last year the company earned revenue of $58.74 million and had a GAAP net loss of $47.25 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.

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