Credit Suisse Starts Galapagos NV (GLPG) at Outperform

Credit Suisse initiates coverage on Galapagos NV (NASDAQ: GLPG) with a Outperform rating with a EUR61 price target.

Analyst Vamil Divan, "We view Galapagos as a leading clinical-stage biotechnology company that is well positioned to deliver strong long-term growth from its proprietary siRNA discovery platform. Filgotinib, a JAK inhibitor partnered with ABBV, is in phase 2b trials for the treatment of rheumatoid arthritis (RA) and phase 2 trials for Crohn’s disease (CD). Additional assets with significant revenue potential include its cystic fibrosis franchise (also partnered with ABBV), GLPG1205 in ulcerative colitis, and GLPG1690 in idiopathic pulmonary fibrosis. GLPG is led by a team with strong industry experience and is well capitalized post-IPO to execute on its pipeline assets. Several catalysts are also in place to drive further investor interest in the near future"

For an analyst ratings summary and ratings history on Galapagos NV click here. For more ratings news on Galapagos NV click here.

Shares of Galapagos NV closed at $52.07 yesterday.

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