Credit Suisse downgraded Galapagos NV (NASDAQ: GLPG) from Outperform to Neutral and cuts its price target from EUR62 to EUR46.

Analyst V. Divan commented, "BBV's decision to opt-out of filgotinib and advance ABT-494 into phase 3 can potentially be viewed as a positive, if GLPG is able to secure a new partnership at more favorable terms and if there is no delay in filgotinib's development."

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 $44.60 yesterday.