Zacks: Brokerages Anticipate GALAPAGOS NV/S (GLPG) Will Announce Quarterly Sales of $54.42 Million
Analysts forecast that GALAPAGOS NV/S (NASDAQ:GLPG) will announce sales of $54.42 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for GALAPAGOS NV/S’s earnings, with estimates ranging from $32.30 million to $99.93 million. GALAPAGOS NV/S reported sales of $59.27 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that GALAPAGOS NV/S will report full-year sales of $192.19 million for the current fiscal year, with estimates ranging from $111.05 million to $252.78 million. For the next financial year, analysts forecast that the company will report sales of $214.65 million, with estimates ranging from $77.34 million to $293.84 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow GALAPAGOS NV/S.
A number of research analysts recently commented on GLPG shares. Cowen reissued a “buy” rating on shares of GALAPAGOS NV/S in a report on Friday, February 22nd. ValuEngine upgraded GALAPAGOS NV/S from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Cantor Fitzgerald set a $130.00 price target on GALAPAGOS NV/S and gave the company a “buy” rating in a research report on Tuesday, March 26th. HC Wainwright began coverage on GALAPAGOS NV/S in a research report on Thursday, March 28th. They set a “buy” rating and a $136.00 price target on the stock. Finally, BidaskClub upgraded GALAPAGOS NV/S from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $127.27.
Hedge funds have recently modified their holdings of the company. Federated Investors Inc. PA boosted its stake in shares of GALAPAGOS NV/S by 17.8% during the 3rd quarter. Federated Investors Inc. PA now owns 1,677,922 shares of the biotechnology company’s stock worth $188,648,000 after acquiring an additional 253,159 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of GALAPAGOS NV/S by 530.8% during the 4th quarter. Bank of New York Mellon Corp now owns 249,137 shares of the biotechnology company’s stock worth $22,857,000 after acquiring an additional 209,642 shares in the last quarter. Norges Bank bought a new stake in shares of GALAPAGOS NV/S during the 4th quarter worth $6,422,000. Prosight Management LP bought a new stake in shares of GALAPAGOS NV/S during the 4th quarter worth $5,766,000. Finally, BlackRock Inc. boosted its stake in shares of GALAPAGOS NV/S by 18.4% during the 3rd quarter. BlackRock Inc. now owns 365,413 shares of the biotechnology company’s stock worth $41,083,000 after acquiring an additional 56,848 shares in the last quarter. Institutional investors own 15.89% of the company’s stock.
About GALAPAGOS NV/S
Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes novel medicines. Its clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis and Crohn's disease, Phase 2/3 trials for ulcerative colitis, and Phase II trials for multiple additional indications; GLPG1690, an autotaxin inhibitor, which is in Phase III clinical trial for the treatment of idiopathic pulmonary fibrosis; GLPG1972 that completed Phase 1b clinical trial for the treatment of osteoarthritis; and MOR106, which is in Phase II trials for atopic dermatitis patients.
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