Galapagos (NASDAQ:GLPG) Issues Earnings Results

Key Points

• EPS beat but revenue miss: Galapagos reported adjusted EPS of $0.25, beating estimates of ($1.14) by $1.39, while revenue came in at $7.5M versus analyst estimates of $39.65M.
• Stock reaction and valuation: Shares rose to $28.81 after the release; the company has a market cap of about $1.90B, a negative P/E, and a 52-week range of $24.74–$37.78.
• Analyst and institutional backdrop: Analyst consensus is an average rating of Hold with a $36.50 target, amid several recent upgrades and notable institutional accumulation (Ameriprise, Millennium, Jane Street), with institutions owning ~32.46% of the stock.

Galapagos (NASDAQ:GLPG - Get Free Report) released its earnings results on Wednesday. The biotechnology company reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of ($1.14) by $1.39, FiscalAI reports. The firm had revenue of $7.50 million for the quarter, compared to analyst estimates of $39.65 million.

Galapagos Stock Performance

Shares of Galapagos stock traded up $0.42 on Wednesday, reaching $28.81. 91,759 shares of the company's stock were exchanged, compared to its average volume of 141,700. The company has a market capitalization of $1.90 billion, a P/E ratio of -18.35 and a beta of 0.25. Galapagos has a 52 week low of $24.74 and a 52 week high of $37.78. The firm's 50-day moving average is $30.70 and its two-hundred day moving average is $31.91.

Analysts Set New Price Targets

A number of analysts have weighed in on GLPG shares. Weiss Ratings raised shares of Galapagos from a "sell (d)" rating to a "hold (c)" rating in a research report on Thursday, February 26th. Wall Street Zen raised shares of Galapagos from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Raymond James Financial reissued a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. UBS Group reissued a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada increased their target price on shares of Galapagos from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Galapagos currently has an average rating of "Hold" and an average target price of $36.50.

Hedge Funds Weigh In On Galapagos

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its holdings in shares of Galapagos by 2,490.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company's stock worth $49,083,000 after buying an additional 1,362,229 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Galapagos by 121.9% during the 4th quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company's stock worth $11,097,000 after buying an additional 186,452 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Galapagos by 2,245.7% during the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company's stock worth $2,783,000 after buying an additional 115,946 shares in the last quarter. Kotler Kevin bought a new position in shares of Galapagos during the 4th quarter worth approximately $2,943,000. Finally, Norges Bank bought a new position in shares of Galapagos in the 4th quarter worth $2,943,000. 32.46% of the stock is currently owned by institutional investors.

Galapagos Company Profile

Galapagos NV NASDAQ: GLPG is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company's discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company's pipeline encompasses multiple programs across various stages of development.

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