Galapagos (NASDAQ:GLPG) Issues Quarterly Earnings Results

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

Galapagos Trading Up 0.3%

Shares of NASDAQ:GLPG traded up $0.10 during trading on Monday, reaching $33.87. The stock had a trading volume of 73,066 shares, compared to its average volume of 108,239. Galapagos has a 52 week low of $22.59 and a 52 week high of $37.78. The stock has a fifty day simple moving average of $33.38 and a two-hundred day simple moving average of $32.72.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its position in shares of Galapagos by 2,490.1% in the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after purchasing an additional 1,362,229 shares during the last quarter. Millennium Management LLC boosted its stake in Galapagos by 121.9% during the 4th quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock valued at $11,097,000 after purchasing an additional 186,452 shares during the period. Jane Street Group LLC boosted its stake in Galapagos by 2,245.7% during 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. Kotler Kevin acquired a new stake in Galapagos in the 4th quarter valued at approximately $2,943,000. Finally, Norges Bank bought a new position in Galapagos in the 4th quarter worth approximately $2,943,000. Institutional investors own 32.46% of the company’s stock.

About Galapagos

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.