SVB Leerink analyst Pasha Sarraf initiated Galapagos NV with an Outperform rating and $140 price target, telling investors in a research note that with a proven tack record of success spearheaded by filgotinib, he likes the forward momentum Galapagos continues to generate with a leading first in/best in class IPF drug in Phase 3 and a pipeline with major optionality in OA and other I&I indications. Sarraf says he is positive on the immunology sector with its diverse indications, continuous innovation, and deep expertise, and is looking long for opportunities in challenging immuno-metabolism and metabolism sectors, in areas like NASH, obesity and diabetes.
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