Galapagos (NASDAQ:GLPG) Posts Earnings Results, Beats Estimates By $2.01 EPS

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

Galapagos Price Performance

Shares of NASDAQ GLPG opened at $33.87 on Tuesday. Galapagos has a 1 year low of $22.59 and a 1 year high of $37.78. The stock has a market cap of $2.23 billion, a P/E ratio of -21.57 and a beta of 0.24. The firm has a 50-day moving average of $33.43 and a 200 day moving average of $32.73.

Analyst Upgrades and Downgrades

Several brokerages have commented on GLPG. Sanford C. Bernstein assumed coverage on shares of Galapagos in a report on Wednesday, November 26th. They issued a “hold” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Royal Bank Of Canada lifted their price objective on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, November 7th. One research 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 has an average rating of “Hold” and a consensus target price of $36.00.

Hedge Funds Weigh In On Galapagos

A number of institutional investors and hedge funds have recently made changes to their positions in GLPG. Ameriprise Financial Inc. boosted its position in shares of Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock worth $49,083,000 after purchasing an additional 1,362,229 shares in the last quarter. Millennium Management LLC increased its position 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 buying an additional 186,452 shares in the last quarter. Jane Street Group LLC raised its stake in Galapagos by 2,245.7% during the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after buying an additional 115,946 shares during the last quarter. Kotler Kevin purchased a new position in Galapagos during the fourth quarter valued at $2,943,000. Finally, Norges Bank bought a new stake in Galapagos in the fourth quarter worth $2,943,000. Institutional investors own 32.46% of the company’s stock.

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.