Video: Galapagos share has fallen too far

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ABM FN-Dow Jones –
Friday, 21 August 2020 11:06 AM

The Galapagos stock has been punished too harshly in recent days. This is what analyst Jos Versteeg of InsingerGilissen says in front of the camera against ABM Financial News.

“The fact that the FDA requires further investigation into the side effects of filgotinib is a major setback, but the drug could still be ‘best in class’,” said Versteeg. What is certain is that Galapagos will experience a considerable delay of almost a year and a half.

But, Versteeg argues, Galapagos is more than filgotinib. First of all, there is a net cash position of 86 euros per share, according to the analyst. And that means that Galapagos’ pipeline is valued at less than 30 euros per share, which Versteeg thinks is unfair.

In the second half of the year there will be important results from ongoing investigations, and that could turn out positively, Versteeg expects.

Galapagos remains on the Recommended list of InsingerGilissen with a target price of 200.00 euros.

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