Stifel analyst Adam Walsh raised the firm's price target on Galapagos (GLPG) to $298 from $188 and reiterates a Buy rating on the shares following the company's Q4 report. With Gilead (GILD) "fully behind" Galapagos, filgotinib ulcerative colitis data approaching in Q2, expected rheumatoid arthritis approvals in U.S., E.U. and Japan in the second half of 2020, multiple Phase read-outs in in the second half, anticipated Toledo program updates, and a "huge" balance sheet to accelerate the clinical pipeline, Galapagos shares still have upside despite the recent big move, Walsh tells investors in a research note.