Galapagos (NASDAQ:GLPG) Shares Gap Up Following Better-Than-Expected Earnings

Shares of Galapagos NV (NASDAQ:GLPG) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $33.87, but opened at $35.73. Galapagos shares last traded at $34.8550, with a volume of 151,101 shares traded.

The biotechnology company reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $2.01. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $80.10 million.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLPG. Royal Bank Of Canada boosted their target price 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Galapagos in a report on Thursday, January 22nd. Sanford C. Bernstein assumed coverage on Galapagos in a research report on Wednesday, November 26th. They issued a “hold” rating for the company. Finally, Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a research report on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Galapagos currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLPG. Madison Avenue Partners LP boosted its holdings in Galapagos by 0.8% in the fourth quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock valued at $72,371,000 after acquiring an additional 17,394 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 buying an additional 1,362,229 shares during the period. EcoR1 Capital LLC lifted its holdings in Galapagos by 569.0% in the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after buying an additional 881,939 shares during the period. UBS Group AG grew its holdings in Galapagos by 128.4% during the 4th quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock worth $11,427,000 after acquiring an additional 196,445 shares during the period. Finally, Millennium Management LLC raised its position in shares of 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 acquiring an additional 186,452 shares during the last quarter. Institutional investors own 32.46% of the company’s stock.

Galapagos Stock Performance

The company has a 50-day moving average price of $33.43 and a 200-day moving average price of $32.73. The firm has a market capitalization of $2.28 billion, a P/E ratio of -22.00 and a beta of 0.24.

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.