Galapagos (NASDAQ:GLPG) Releases Earnings Results, Beats Estimates By $1.39 EPS

Galapagos (NASDAQ:GLPG) issued its earnings results on Wednesday. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.14) by $1.39, FiscalAI reports. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $39.65 million.

Galapagos Stock Up 1.5%

NASDAQ:GLPG traded up $0.42 during trading hours on Wednesday, hitting $28.81. 91,759 shares of the company traded hands, compared to its average volume of 141,700. The firm’s 50-day simple moving average is $30.70 and its 200-day simple moving average is $31.91. Galapagos has a one year low of $24.74 and a one year high of $37.78. The company has a market cap of $1.90 billion, a PE ratio of -18.35 and a beta of 0.25.

Hedge Funds Weigh In On Galapagos

Large investors have recently bought and sold shares of the stock. Boothbay Fund Management LLC bought a new position in Galapagos during the 2nd quarter valued at $612,000. Aquatic Capital Management LLC lifted its stake in Galapagos by 63.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 17,516 shares of the biotechnology company’s stock valued at $607,000 after acquiring an additional 6,807 shares in the last quarter. Engineers Gate Manager LP bought a new position in Galapagos during the 2nd quarter valued at $560,000. National Bank of Canada FI bought a new position in Galapagos during the 3rd quarter valued at $494,000. Finally, BNP Paribas Financial Markets lifted its stake in Galapagos by 81.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,854 shares of the biotechnology company’s stock valued at $411,000 after acquiring an additional 5,305 shares in the last quarter. 32.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. UBS Group reiterated a “market perform” rating on shares of Galapagos in a report on Tuesday, February 24th. Weiss Ratings upgraded Galapagos from a “sell (d)” rating to a “hold (c)” rating in a report on Thursday, February 26th. Royal Bank Of Canada increased their target price on Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. Raymond James Financial reiterated a “market perform” rating on shares of Galapagos in a report on Tuesday, February 24th. Finally, Wall Street Zen upgraded Galapagos from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Galapagos presently has a consensus rating of “Hold” and a consensus price target of $36.50.

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.