Leerink Partnrs Lowers Earnings Estimates for Galapagos

Galapagos NV (NASDAQ:GLPG - Free Report) - Investment analysts at Leerink Partnrs dropped their FY2024 earnings estimates for shares of Galapagos in a research note issued to investors on Thursday, October 31st. Leerink Partnrs analyst F. Khurshid now anticipates that the biotechnology company will post earnings per share of ($0.48) for the year, down from their previous forecast of $0.08. Leerink Partnrs currently has a "Hold" rating on the stock. The consensus estimate for Galapagos' current full-year earnings is $0.90 per share. Leerink Partnrs also issued estimates for Galapagos' Q4 2024 earnings at ($0.14) EPS, Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.21) EPS, Q4 2025 earnings at ($0.21) EPS, FY2025 earnings at ($0.83) EPS and FY2026 earnings at ($1.77) EPS.

Other equities analysts have also issued reports about the stock. Leerink Partners began coverage on shares of Galapagos in a research report on Monday, September 9th. They set a "market perform" rating and a $24.00 price target for the company. Royal Bank of Canada reduced their price target on shares of Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday. Finally, Raymond James lowered shares of Galapagos from an "outperform" rating to a "market perform" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $30.75.

Galapagos Stock Performance

Shares of Galapagos stock traded down $0.18 during midday trading on Monday, hitting $26.71. The company had a trading volume of 121,860 shares, compared to its average volume of 135,696. The company has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $27.71. Galapagos has a 12-month low of $24.16 and a 12-month high of $42.46.

Institutional Investors Weigh In On Galapagos

A number of hedge funds and other institutional investors have recently made changes to their positions in GLPG. BNP Paribas Financial Markets grew its stake in shares of Galapagos by 783.6% during the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company's stock worth $172,000 after purchasing an additional 4,725 shares during the period. Headlands Technologies LLC grew its stake in shares of Galapagos by 949.3% during the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 712 shares during the period. Monaco Asset Management SAM grew its stake in shares of Galapagos by 148.3% during the 1st quarter. Monaco Asset Management SAM now owns 16,744 shares of the biotechnology company's stock worth $539,000 after purchasing an additional 10,000 shares during the period. Acadian Asset Management LLC grew its stake in shares of Galapagos by 18.5% during the 1st quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company's stock worth $488,000 after purchasing an additional 2,366 shares during the period. Finally, AlphaCentric Advisors LLC grew its stake in shares of Galapagos by 3.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 108,500 shares of the biotechnology company's stock worth $2,689,000 after purchasing an additional 3,500 shares during the period. Institutional investors and hedge funds own 32.46% of the company's stock.

Galapagos Company Profile

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.