$26.50 Million in Sales Expected for Galapagos NV (GLPG) This Quarter
Equities analysts predict that Galapagos NV (NASDAQ:GLPG) will announce $26.50 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Galapagos NV’s earnings, with estimates ranging from $14.80 million to $38.20 million. Galapagos NV posted sales of $32.38 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 18.2%. The firm is expected to report its next quarterly earnings report on Friday, August 4th.
On average, analysts expect that Galapagos NV will report full year sales of $26.50 million for the current financial year, with estimates ranging from $87.03 million to $186.41 million. For the next year, analysts expect that the business will report sales of $228.30 million per share, with estimates ranging from $86.87 million to $406.05 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Galapagos NV.
Several analysts recently commented on the stock. Janney Montgomery Scott upgraded shares of Galapagos NV from a “sell” rating to a “neutral” rating in a research report on Friday. They noted that the move was a valuation call. Instinet restated a “buy” rating and set a $108.00 price objective (down previously from $121.00) on shares of Galapagos NV in a research report on Thursday, June 22nd. Nomura cut their price objective on shares of Galapagos NV from $108.00 to $121.00 and set a “buy” rating for the company in a research report on Thursday, June 22nd. Cowen and Company restated a “buy” rating on shares of Galapagos NV in a research report on Wednesday, June 21st. Finally, BTIG Research restated a “buy” rating and set a $98.00 price objective on shares of Galapagos NV in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $94.00.
TRADEMARK VIOLATION NOTICE: This news story was first reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/07/07/26-50-million-in-sales-expected-for-galapagos-nv-glpg-this-quarter.html.
Shares of Galapagos NV (GLPG) traded up 1.07% during mid-day trading on Friday, hitting $76.44. 85,522 shares of the stock traded hands. Galapagos NV has a 12 month low of $51.91 and a 12 month high of $94.88.
Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new position in shares of Galapagos NV during the first quarter worth about $161,000. Bank of Montreal Can boosted its stake in shares of Galapagos NV by 8,736.4% in the first quarter. Bank of Montreal Can now owns 1,944 shares of the biotechnology company’s stock worth $168,000 after buying an additional 1,922 shares during the last quarter. Cim Investment Mangement Inc. acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $203,000. Karp Capital Management Corp acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $206,000. Finally, Airain ltd acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $237,000. Institutional investors and hedge funds own 19.92% of the company’s stock.
Galapagos NV Company Profile
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Galapagos NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galapagos NV and related companies with MarketBeat.com's FREE daily email newsletter.