Janney says Galapagos NV 'priced to perfection,' cuts two notches to Sell
As previously reported, Janney Capital analyst Debjit Chattopadhyay downgraded Galapagos NV (GLPG) to Sell from Neutral, stating that while the baricitinib setback suffered by competitors Incyte (INCY) and Eli Lilly (LLY) was "obviously great news," filgotinib is still more than 2 years from commercialization and over seven years away from peak sales. The majority of the positives are already reflected in the stock, even "generously" assuming peak sales for filgotinib above $3B, said Chattopadhyay, who has a $73 fair value estimate on Galapagos shares, which closed Friday at $85.84.
Hmmm.