Galapagos And Its Partnership With Gilead: A Study
With the enormous amount of cash infused into GLPG by Gilead, the company already has a market cap nearing $12bn against our base case of $9bn, with share price being $185 today. So we were conservative in one aspect, but correct in another. However, Gilead’s cash infusion is for the rest of the pipeline, and we cannot ignore it any longer. I think, in the near term, our bull case above, or a price target of $235 based on filgotinib alone, looks more realistic. However, and completely ignoring TOLEDO, to which we will come in a separate article, I think its other non-filgotinib clinical molecules could be given about as much weight as filgotinib, with a term window of between 5 and 7 years. If that is true, we expect the company to double during that time, as the other molecules come to the market.
seekingalpha.com/article/4308467-gala...
Sommigen verwachten een eerste overbrugging naar 235 dollar...
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