Cowen & Co. Believes Galapagos NV (NASDAQ: GLPG) Won’t Stop Here

By Austin Angelo

In a report released today, Phil Nadeau from Cowen & Co. maintained a Buy rating on Galapagos NV (GLPGResearch Report). The company’s shares opened today at $179.74, close to its 52-week high of $191.63.

According to TipRanks.com, Nadeau is a 4-star analyst with an average return of 4.3% and a 44.8% success rate. Nadeau covers the Healthcare sector, focusing on stocks such as BioMarin Pharmaceutical Inc., Phasebio Pharmaceuticals Inc, and Rhythm Pharmaceuticals Inc.

Galapagos NV has an analyst consensus of Strong Buy, with a price target consensus of $158.01, a -12.1% downside from current levels. In a report issued on July 15, Citigroup also reiterated a Buy rating on the stock with a $140 price target.

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Based on Galapagos NV’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $55.25 million. In comparison, last year the company had a GAAP net loss of $25.93 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.