reports
Galapagos Receives Transparency Notifications from Bank of America
Galapagos Receives Transparency Notifications from Bank of America Mechelen, Belgium; February 10, 2026, 22:01 CET; regulated information – Galapagos NV (Euronext & NASDAQ: GLPG) received transparency notifications from Bank of America. Pursuant to Belgian transparency legislation1, Galapagos received transparency notifications on February 5, 6, and 9, 2026, from Bank of America Corporation. The initial notification indicates that Bank of America Corporation, as controlling entity, crossed above the threshold of 5% of Galapagos’ voting rights on February 2, 2026, followed by its controlle...
Galapagos ontvangt transparantieverklaringen van Bank of America
Galapagos ontvangt transparantieverklaringen van Bank of America Mechelen, België; 10 februari 2026, 22:01 CET; gereglementeerde informatie – Galapagos NV (Euronext & NASDAQ: GLPG) heeft transparantieverklaringen ontvangen van Bank of America. Overeenkomstig de Belgische transparantiewetgeving1 ontving Galapagos op 5, 6 en 9 februari 2026 transparantieverklaringen van Bank of America Corporation. Daaruit blijkt dat Bank of America Corporation, als controlerende entiteit, op 2 februari 2026 de drempel van 5% van de stemrechten van Galapagos heeft overschreden, gevolgd door haar gecontro...
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update February 2026: Removing ASMi; Adding UCB
After today's changes (ASMi out, UCB in), we maintain a balanced approach in our Dynamic Top Pick List, with a particular emphasis on value stocks that have been overlooked. Our defensive holdings are overweight, including real estate, which stands to benefit from lower interest rates. We remove ASMi from our Dynamic Top Pick List as the recent share price performance has driven the valuation meaningfully ahead of fundamentals. Since early December, FY27 diluted EPS expectations have risen by a...
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UCB UCB S.A.
DIE D'IETEREN SA
SOF SOFINA SA
IBAB ION BEAM APPLICATIONS SA
ROYAL VOPAK NV
AED AEDIFICA SA
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
ARGX ARGEN-X SE
WDP WAREHOUSES DE PAUW SCA
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
- ING Helpdesk
Benelux Morning Notes
Flow Traders: Preview 4Q25 / Kinepolis: January reassures with US box office revenue up 14% YoY, France visitors up 15% YoY / Lotus Bakeries: Peer Mondelez 4Q25 results / MICC: Peer Mondelez 4Q25 results / RELX / Wolters Kluwer: Anthropic moves into Legal / Signify: Analyst lunch highlights / TomTom: 4Q25 results, bridging a gap / UCB: Evenity sales exceeded US$2.1bn in FY25 as per Amgen
- Guy Sips
- Jacob Mekhael
- Mathijs Geerts Danau
- Wim Hoste
- Wim Lewi
- Jacob Mekhael
UCB Presents supportive three-year Bimzelx data in HS at EHSF
UCB announced that three-year data from the BE HEARD trials for Bimzelx in moderate to severe HS will be presented at the Conference of the European Hidradenitis Suppurativa Foundation EHSF, being held 4–6 February in Malta. The data show high rates of total HS resolution at 3 years, high rates of improvement from moderate or severe HS to mild disease, as well as strong draining tunnel resolution. This continues to highlight Bimzelx' benefit in this patient group, which we believe will further d...
- Guy Sips
- Jacob Mekhael
- Wim Hoste
- Wim Lewi
- Jacob Mekhael
UCB Model update ahead of FY25 results
Following the second guidance upgrade for FY25 (announced 5 December 2025), we update our UCB model ahead of FY25 results. UCB now expects revenue to exceed €7.6bn, representing +24% y/y (previously at least €7bn). The upgraded guidance reflects - next to the continued growth of Rystiggo, Zilbrysq, Fintepla and Evenity – strong performance of Bimzelx, including a strong momentum in hidradenitis suppurativa (HS) and a favourable payer mix in the US. Our model update increases Bimzelx FY25 sales t...
- Hilde Van Boxstael
- Jacob Mekhael
- Wim Hoste
- Wim Lewi
- Jacob Mekhael
UCB Kygevvi receives positive CHMP opinion in ultra-rare disease TK2d
Friday during trading hours, UCB announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) adopted a positive opinion recommending the granting of marketing authorisation under exceptional circumstances for Kygevvi (doxecitine and doxribtimine) for the treatment of pediatric and adult patients with genetically confirmed thymidine kinase 2 deficiency (TK2d) with an age of symptom onset on or before 12 years. Following the positive CHMP opinion...
- Javier Esteban
ING GROEP: RDOS. 4T’25 (ANÁLISIS BANCO SABADELL)
Rdos. 4T’25 vs 4T’24: M. Intereses: 3.818 M euros (+3,7% vs +6% BS(e) y +5,9% consenso); M. Bruto: 5.797 M euros (+7,2% vs +4,7% BS(e) y +4,8% consenso); M. Neto: 2.460 M euros (+18,8% vs +13% BS(e) y +11,5% consenso); BDI: 1.411 M euros (+22,2% vs +21% BS(e) y +16,9% consenso). Rdos. 4T’25 vs 3T’25: M. Intereses: 3.818 M euros (+3,1% vs +5,2% BS(e) y +5,2% consenso); M. Bruto: 5.797 M euros (-1,7% vs -4,1% BS(e) y -3,9% consenso); M. Neto: 2.460 M euros (-14,8% vs -19% BS(e) y -20% consenso); ...
- Research Department
INFORME DIARIO 29 ENERO + RDOS. ESPAÑA Y EUROPA 4T’25. PREVIEWS (ANÁLI...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: AEDAS HOMES, NATURGY, NEINOR HOMES. EUROPA: ING, NOKIA, SANOFI, SAP. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 4T’25 que se publicarán en España y Europa en los próximos días. El lujo arrastra a Europa Caídas en las bolsas europeas tras la mala acogida de Rdos de LVMH y antes de la comparecencia de J...
- ING Helpdesk
Benelux Morning Notes
Ahold Delhaize: Conditional approval for the acquisition of Delfood / Bekaert: Acquires Bridgestone's €80m tyre cord business in China and Thailand / KPN: In-line Q4, 2026 guidance, cash returns / NSI: Results in line, further vacancy weighing on 2026 and cautious tone on new developments / UCB: Cimzia included in Medicare's price negotiations for 2028
- David Vagman
- CFA
- Maxime Stranart
UCB/Bimzelx continues its exceptional launch/BUY
We reiterate our BUY rating and raise our target price from €257 to €310. UCB finished the year strongly, after upgrading its guidance for a second time in FY25. This upgraded guidance was mainly driven by an exceptional performance for Bimzelx, the group's key growth engine and which continues to surprise to the upside. This gives us comfort into our peak sales of €8.5bn for Bimzelx by 2032F, especially as the performance of Bimzelx in Hidradenitis Suppurativa remains strong. Alongside Bimzelx,...
- Dominic Rose
- Naresh Chouhan
UCB - Highest Conviction Long (BUY, TP EUR300, 13pgs)
Deeper analysis on Bimzelx pricing means UCB is now our highest conviction long (Roche & AZN have had big moves). We show that: 1) Bimzelx ’26 pricing concerns are overdone, 2) 55% US volume growth in 2026 is likely, 3) Consensus is likely too low for H225 on US Bimzelx (pricing is likely +ive vs H125), 4) Guidance is likely in-line with cons. & 5) H225 has 2 upside drivers, with BE-BOLD boosting rheum volumes & one big payor likely unlocking HS access. Our proprietary product-by-product model s...
UCB SA: 2 directors
Two Directors at UCB SA bought/sold after exercising options 3,500 shares at between 254.270EUR and 255.491EUR. The significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the compa...
- Jacob Mekhael
UCB Reiterates recently upgraded FY25 guidance
UCB highlighted its 2025 achievements, and reiterated its recently upgraded FY25 guidance (5 December 2025). This was the company's second guidance upgrade in 2025 and shows that UCB's commercial momentum continues its upward trajectory supported by its 5 key growth drivers, including lead product Bimzelx which saw strong momentum in HS. This is further supported by Bimzelx reaching over 100K patients worldwide. Looking ahead, Bimzelx' expanded access in 2026 to include 36m additional covered li...
- Jacob Mekhael
- Livio Luyten
- Mathijs Geerts Danau
- Wim Hoste
- Jacob Mekhael
- Lynn Hautekeete
- Mathijs Geerts Danau
- Wim Hoste
- Wim Lewi
- Jacob Mekhael
Galapagos Initiates wind-down of cell Tx after conclusion of works cou...
Galapagos announced that the previously reported works council consultation process regarding the wind-down of cell therapy activities has now been completed and its Board of Directors has decided to initiate the wind-down of the company's cell therapy activities. This decision follows a strategic review and sale process in 2025 where no viable offers emerged. We believe the wind-down creates clarity and, once completed, will allow management to move forward with their plan of building a new pip...
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