The initiation of coverage by a major financial institution like Morgan Stanley generally brings increased attention to a stock. An Equal-Weight rating suggests that Morgan Stanley views Galapagos as adequately valued at its current price, implying that the stock might perform in line with the market or its sector. The price target of $38 provides a specific expectation for the stock's future price level, but since the rating is Equal-Weight, the short-term impact on the stock price is likely to be neutral.