B of A Securities Downgrades Galapagos to Underperform, Lowers Price Target to $31
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Jason Gerberry downgraded Galapagos (NASDAQ:GLPG) from Neutral to Underperform and reduced the price target from $41 to $31, indicating a bearish outlook on the company's stock.
March 28, 2024 | 10:20 am
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Galapagos was downgraded by B of A Securities from Neutral to Underperform, with a price target reduction from $41 to $31, suggesting a negative short-term outlook.
The downgrade by a significant financial institution like B of A Securities, accompanied by a substantial reduction in the price target, is likely to negatively impact investor sentiment towards Galapagos in the short term. This bearish outlook reflects concerns about the company's future performance, potentially leading to a decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100