Leerink Partnrs Weighs in on Galapagos FY2024 Earnings

Galapagos NV (NASDAQ:GLPG) – Research analysts at Leerink Partnrs increased their FY2024 earnings estimates for Galapagos in a research note issued on Sunday, December 8th. Leerink Partnrs analyst F. Khurshid now forecasts that the biotechnology company will earn ($0.47) per share for the year, up from their previous forecast of ($0.48). Leerink Partnrs currently has a “Hold” rating on the stock. The consensus estimate for Galapagos’ current full-year earnings is $0.52 per share. Leerink Partnrs also issued estimates for Galapagos’ Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.80) EPS and FY2026 earnings at ($1.72) EPS.

Several other equities research analysts have also issued reports on GLPG. Leerink Partners initiated coverage on shares of Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.75.

Galapagos Price Performance

Shares of GLPG opened at $26.98 on Wednesday. Galapagos has a 1 year low of $24.16 and a 1 year high of $42.46. The company’s 50 day simple moving average is $28.05 and its 200 day simple moving average is $27.38.

Hedge Funds Weigh In On Galapagos

Several hedge funds have recently made changes to their positions in GLPG. Stonepine Capital Management LLC increased its position in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after acquiring an additional 91,366 shares in the last quarter. DME Capital Management LP boosted its holdings in shares of Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after purchasing an additional 75,000 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Galapagos in the third quarter valued at approximately $1,077,000. Creative Planning acquired a new stake in Galapagos in the second quarter valued at approximately $456,000. Finally, Millennium Management LLC lifted its stake in Galapagos by 5.3% in the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after acquiring an additional 17,089 shares during the last quarter. 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.