Galapagos downgraded to 'underweight', as Barclays deems shares 'boxed in'

Lakefront Biotherapeutics NV

23/01/2025 07:41

** Barclays downgrades Galapagos  GLPG.AS   to
"underweight" from "equal weight" and lowers its PT by 27% to
EUR 22
    ** Whilst Barclays believes the Belgian pharma company's
divisional severance "may indeed lead to value down the road"
with plenty of cash to hand, immediate gains seem unlikely with
a detailed action plan lacking 
    ** Combined with a sector "out of favour", wary investors,
and programmes in an already crowded space, the broker sees
little short-term upside to the stock
    ** Out of 12 analysts that cover Galapagos, two rate the
stock "strong buy" or "buy", ​seven rate "hold" and three rate
the stock "strong sell" or "sell"

 (Reporting by Jakob Van Calster)
 ((Jakob.vancalster@thomsonreuters.com))