Fly News Breaks for February 25, 2020
Feb 25, 2020 | 07:49 EDT
Cantor Fitzgerald analyst Eliana Merle downgraded Galapagos to Neutral from Overweight with a price target of $192, up from $187. The analyst cites valuation for the downgrade as she believes current share levels provide "appropriate credit" to the company's pipeline. Readouts in the second half of 2020 could be a "significant source of optionality," but it is hard to get confidence on these readouts greater than what is reflected in the stock price, Merle tells investors in a research note.
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