Stock Track | Galapagos Plunges as Q3 Earnings Disappoint, Analyst Estimates Decline

Stock Track

Oct 31, 2024

Galapagos NV's (GLPG) stock plunged in pre-market trading on Wednesday, October 31, 2024, after the biopharmaceutical company reported disappointing financial results for the third quarter of 2024.

The Belgian company reported a quarterly adjusted loss of $0.77 per share, missing analyst expectations of a loss of $0.49 per share. Revenue fell by a steep 50.1% year-over-year to €59.85 million, significantly lower than the consensus estimate of €69.44 million.

Galapagos' underperformance in the quarter, coupled with a 155.7% decline in analyst earnings estimates over the past three months, fueled concerns about the company's financial outlook. The pre-market sell-off reflects investors' disappointment with the company's failure to meet market expectations and the potential challenges it faces in the near future.

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Revenue fell by a steep 50.1% year-over-year to €59.85 million, significantly lower than the consensus estimate of €69.44 million.</p>\n\n<p>Galapagos' underperformance in the quarter, coupled with a 155.7% decline in analyst earnings estimates over the past three months, fueled concerns about the company's financial outlook. The pre-market sell-off reflects investors' disappointment with the company's failure to meet market expectations and the potential challenges it faces in the near future.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GLPG","symbol_name":"Galapagos NV","start_time":0,"source_url":"","article_id":"1171056025","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1171056025","pubTimestamp":1730362338,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Galapagos NV's  stock plunged in pre-market trading on Wednesday, October 31, 2024, after the biopharmaceutical company reported disappointing financial results for the third quarter of 2024.The Belgian company reported a quarterly adjusted loss of $0.77 per share, missing analyst expectations of a loss of $0.49 per share. 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