Galapagos (NASDAQ:GLPG) Issues Earnings Results, Beats Expectations By $1.52 EPS

Galapagos (NASDAQ:GLPG) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.27) by $1.52, FiscalAI reports. The firm had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $32.00 million.

Galapagos Stock Down 3.7%

Shares of NASDAQ GLPG opened at $27.73 on Friday. The company’s 50-day simple moving average is $30.46 and its 200-day simple moving average is $31.82. Galapagos has a 52-week low of $24.74 and a 52-week high of $37.78. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -17.66 and a beta of 0.25.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Galapagos

Several hedge funds and other institutional investors have recently modified their holdings of GLPG. State of Wyoming acquired a new position in Galapagos during the second quarter worth about $28,000. Van ECK Associates Corp boosted its position in Galapagos by 61.6% during the fourth quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 750 shares during the last quarter. Arax Advisory Partners boosted its position in Galapagos by 319.2% during the fourth quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 1,778 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Galapagos during the third quarter worth about $134,000. Finally, Squarepoint Ops LLC acquired a new position in Galapagos during the third quarter worth about $211,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.