H.C. Wainwright Believes Galapagos NV (NASDAQ: GLPG) Still Has Room to Grow

By Ryan Adsit

H.C. Wainwright analyst Debjit Chattopadhyay maintained a Buy rating on Galapagos NV (GLPGResearch Report) today and set a price target of $150. The company’s shares closed yesterday at $122.75, close to its 52-week high of $125.48.

Chattopadhyay commented:

“Valuation and risks to our investment thesis. Our 12-month, $150 price target on shares of Galapagos is derived from a 13- year DCF-based, sum-of-the-parts analysis. Our DCF is driven by: beta of 1.34, terminal growth rate of -3.0%, risk premium of 4.93%, calculated WACC of 9.3%, and tax rate of 20% beginning in FY 2025. (11%) together make up 88% of our value, with the remainder derived from the probability-adjusted, filgotinib-associated milestone payments.”

According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -2.4% and a 40.3% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.

Galapagos NV has an analyst consensus of Strong Buy, with a price target consensus of $139.67.

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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 $45.82 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.