Cantor Fitzgerald Reiterates Their Buy Rating on Galapagos NV (GLPG)

By Carrie Williams

Cantor Fitzgerald analyst Eliana Merle reiterated a Buy rating on Galapagos NV (GLPGResearch Report) today and set a price target of $130. The company’s shares closed yesterday at $96.13.

Merle noted:

“. Reiterate Overweight and PT of $130. Phase 3 filgotinib data exceeded our expectations supporting a potentially best in class JAK. Galapagos and Gilead (OW, Young) reported the remaining two Ph3 studies in the FINCH program for RA. What we found most compelling in this dataset is differentiated safety compared to other JAK inhibitors on both rates of thrombotic events as well as infections. Although expectations were high heading into this readout for GLPG, we think that shares could trade up 10-15% as we see differentiated safety from key competitor AbbVie’s (NC) upadacitnib.”

According to TipRanks.com, Merle is ranked 0 out of 5 stars with an average return of -12.2% and a 11.5% success rate. Merle covers the Healthcare sector, focusing on stocks such as Aerpio Pharmaceuticals Inc, CymaBay Therapeutics, and AnaptysBio Inc.

Currently, the analyst consensus on Galapagos NV is a Strong Buy with an average price target of $135.20, representing a 40.6% upside. In a report released yesterday, H.C. Wainwright also initiated coverage with a Buy rating on the stock with a $136 price target.

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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 79.9K.

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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.