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Fly News Breaks for July 15, 2019
GILD, GLPG
Jul 15, 2019 | 07:13 EDT
H.C. Wainwright analyst Debjit Chattopadhyay raised his price target for Galapagos (GLPG) to $205 from $150 following the company's collaboration agreement with Gilead Sciences (GILD). For Galapagos shareholders, this is a "bittersweet moment," one that brings "significant validation" but complicated by the 10-year standstill agreement, which implies no near-term takeover-driven gratification, Chattopadhyay tells investors in a research note. He keeps a Buy rating on Galapagos.
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