RBC Cuts Galapagos NV (GLPG) Price Target to $28, Maintains Sector Perform Ahead of Q1

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TheFly reported on April 7 that RBC Capital Markets adjusted its outlook on GLPG, reducing its price target from $33 to $28 while maintaining a Sector Perform rating. The update was included in a broader Biotech sector preview ahead of first-quarter earnings.

The firm cited expected seasonal pressures such as reimbursement resets, gross-to-net dynamics, and fewer selling days, which could be further affected by weather-related disruptions in early-stage and clinic-based product activity. At the same time, it noted that improving merger and acquisition activity and clearer expectations around drug pricing policy impacts may help offset near-term volatility and support a more stable sector environment.

RBC Cuts Galapagos NV (GLPG) Price Target to $28, Maintains Sector Perform Ahead of Q1

Additionally, earlier on March 31, Galapagos NV (NASDAQ:GLPG) and Gilead Sciences entered a binding framework related to Gilead’s acquisition of Ouro Medicines, a private biotech focused on T-cell engager therapies for autoimmune conditions. The agreement outlines expanded collaboration rights, including access to select Ouro programs such as gamgertamig, alongside provisions for shared development responsibilities, milestone-based payments, and future royalty structures.

It also includes arrangements for operational asset transfer and funding flexibility for GLPG, allowing independent capital deployment and potential share repurchases, while establishing joint participation in advancing autoimmune-focused research and clinical development programs.

Galapagos NV (NASDAQ:GLPG) is a Belgium-based biotechnology company focused on developing innovative treatments in immunology and oncology. It works on small molecules and CAR-T cell therapies using a decentralized manufacturing approach.

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