H.C. Wainwright Sticks to Their Buy Rating for Galapagos (GLPG)

By Carrie Williams

H.C. Wainwright analyst Debjit Chattopadhyay reiterated a Buy rating on Galapagos (GLPGResearch Report) today and set a price target of $270.00. The company’s shares closed last Wednesday at $221.27.

According to TipRanks.com, Chattopadhyay is a 5-star analyst with an average return of 14.3% and a 53.7% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Allogene Therapeutics, and Molecular Partners AG.

Currently, the analyst consensus on Galapagos is a Moderate Buy with an average price target of $232.83, a 6.2% upside from current levels. In a report issued on May 8, Nomura also maintained a Buy rating on the stock with a $290.00 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 $33.05 million and had a GAAP net loss of $48.66 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.