Galapagos downgraded to Underweight from Equal Weight at Barclays

Barclays downgraded Galapagos (GLPG) to Underweight from Equal Weight with a price target of EUR 22, down from EUR 30. With Galapagos’ ongoing spin process not expected to complete until the middle of this year, a takeover is unlikely for the time being, the analyst tells investors in a research note. The firm is not expecting any major clinical data in the first half of 2025, which it thinks will keep “a lid on shares for the time being.”