Galapagos NV price target lowered to $94 from $100 at RBC Capital. RBC Capital analyst Brian Abrahams lowered his price target on Galapagos (GLPG) to $94 and kept his Sector Perform rating after the company’s phase 2 trial data for ‘2737 suggested that it will be hard for it to compete with Vertex (VRTX) in Cystic fibrosis. Abrahams says he is removing the CF value from his model, even though he sees some support for the stock price from the program’s “modest expectations” ahead of the trial and the promise of its lead asset filgotinib.
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