Galapagos (NASDAQ:GLPG) Announces Earnings Results

Galapagos (NASDAQ:GLPG) announced its quarterly earnings results on Monday. The biotechnology company reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $2.01, FiscalAI reports. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $80.10 million.

Galapagos Trading Up 0.3%

Galapagos stock traded up $0.10 during mid-day trading on Monday, hitting $33.87. The company’s stock had a trading volume of 73,066 shares, compared to its average volume of 108,239. Galapagos has a twelve month low of $22.59 and a twelve month high of $37.78. The stock’s fifty day moving average price is $33.38 and its two-hundred day moving average price is $32.72.

Institutional Investors Weigh In On Galapagos

A number of institutional investors and hedge funds have recently modified their holdings of GLPG. Jane Street Group LLC boosted its position in shares of Galapagos by 2,245.7% in the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after purchasing an additional 115,946 shares during the period. Geode Capital Management LLC purchased a new stake in Galapagos during the second quarter valued at about $220,000. Jump Financial LLC acquired a new position in shares of Galapagos in the second quarter worth about $692,000. Boothbay Fund Management LLC purchased a new position in shares of Galapagos in the second quarter worth approximately $612,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Galapagos in the second quarter worth approximately $560,000. 32.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on GLPG shares. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a report on Thursday, January 22nd. Sanford C. Bernstein started coverage on shares of Galapagos in a research note on Wednesday, November 26th. They set a “hold” rating on the stock. Royal Bank Of Canada boosted their price target on shares of Galapagos from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Finally, Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.00.

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.