GLPG - Galapagos Downgraded Pharma Firm Faces Uphill Battle With Slow Pipeline Progress: Analyst | Benzinga
Bank of America Securities downgrades European drugmaker Galapagos NV (NASDAQ:GLPG) to underperform, citing few catalysts in the near term.
Galapagos’ enterprise value has been consistently low, ranging between $1.5 billion and $2 billion, and the analysts don’t anticipate any immediate or medium-term solutions to this.
Additionally, the company’s main programs are entering crowded markets where differentiation is unclear, and there is a lack of significant catalysts to drive growth.
Galapagos’ primary cancer pipeline requires 3 to 4 years to reach the market, accompanied by significant cash depletion and uncertain standing in fiercely competitive markets.
Moreover, ...