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Lakefront Biotherapeutics NV (GLPGF) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Lakefront Biotherapeutics NV $123, price $31.95, upside +283.7%, quality 70 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Some data
Sep 24, 2026
Some data
Sep 24, 2026
Lakefront Biotherapeutics NV
GLPGF · USClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value $122.59 · Strongly undervalued (+283.7%)
✓Quality 70/100
!Expensive Growth (revenue 5y +18.4 %/yr)
✓Highly profitable · 46.8% net margin (TTM)
!Low debt · negative free cash flow
✓Wide moat 70/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $22.39 – $71.10 · fair‑value band $91.95 – $198.49 · the $31.95 price screens below the $122.59 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
Lakefront Biotherapeutics NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe.
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Lakefront Biotherapeutics NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667, which is in a phase 2 clinical trial in dermatomyositis and systemic lupus erythematosus; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in a phase 1/2 trial in relapsed/refractory non-hodgkin lymphoma; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma. The company has collaboration agreements with Gilead Sciences, Inc. The company was formerly known as Galapagos NV and changed its name to Lakefront Biotherapeutics NV in May 2026. The company was incorporated in 1999 and is headquartered in Mechelen, Belgium.
Stock analysis
Lakefront Biotherapeutics NV (GLPGF) currently trades at $31.95, while our model-based Fair Value estimate is $122.59, implying the stock looks roughly 73.9% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $206.66 per share, and 15 of the 15 models we run sit above the $31.95 price.
Bear case: the Asset-Based group reads lowest at $37.02, and 0 of the 15 models stay below the price. Evidence for this calculation is medium.
Scenario range: $91.95 (bear) to $198.49 (bull), the price of $31.95 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Healthcare sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Lakefront Biotherapeutics NV reported revenue of €1.1B in FY2025 versus €485M in FY2021, a compound +23.1%/yr. Reported net income was €321M in FY2025.
Key figures
Market cap $3.2B · P/E ratio 3.7 · P/S ratio 1.07 · EPS (TTM) $8.59 · Net margin 28.9% · Return on equity 16.3% · Return on assets (EBIT) −0.3% · Operating margin −983%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).
What moves the price
The share trades about 6% below its 52-week high and 22% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 10% fair-value upside, at 284%, GLPGF screens cheaper than that median.
Fair Value models
Bear $91.95
Fair Value $122.59
Bull $198.49
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($6.50 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV
$67.12
$77.48
$86.42
74
ROIC Compounder
$79.55
$109.15
$134.10
72
Owner Earnings
$94.07
$206.66
$434.32
71
All 15 models by family
DCF Models
Owner Earnings
$94.07
$206.66
$434.32
71
Earnings-Based
Graham-Dodd
$37.26
$259.86
$364.68
63
Lynch FV
$105.10
$150.14
$195.19
61
PEG = 1.0
$105.10
$150.14
$195.19
57
EPV
$67.12
$77.48
$86.42
74
Multiples
P/E Multiple
$90.42
$120.55
$150.69
63
P/S Multiple
$49.86
$66.48
$83.10
58
P/B Multiple
$69.87
$93.16
$116.44
55
EV/EBIT
$103.76
$137.85
$171.93
66
EV/EBITDA
$95.74
$127.15
$158.56
67
EV/Revenue
$41.39
$58.48
$75.58
54
Asset-Based
NCAV (Graham)
$27.63
$37.02
$55.26
54
Economic Profit
Residual Income
$47.71
$52.67
$65.72
71
ROIC Compounder
$79.55
$109.15
$134.10
72
Growth Earnings
Growth-Adj P/E
$134.23
$191.76
$249.29
67
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Set up alert →Quality Score breakdown
Overall quality
70/100
Of which business quality 62 · Market factors (momentum, volatility) 54
Profitability
56
Margins and returns on capital today
Quality Growth
100
Are margins and returns improving?
Cashflow
0
Earnings quality: real cash, not paper profit
Fin. Strength
82
Balance sheet, leverage, solvency risk
Investment
86
Disciplined investing over empire-building
Low Volatility
85
Calm price path (market factor)
Momentum
35
Price trend over the last 3–12 months (market factor)
52W Momentum
51
Distance to the 52-week high (market factor)
Net Issuance
81
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+303.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+30.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.4%
Start year 2020 (pandemic). Over 10 years: +39.6% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+26.7%
’14
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’18
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’20
’21
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’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
≈ +2.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.13.4% vs 15.6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−37% → 42%
Start year 2020 (pandemic)
⚠ Rate on operating basis: 2025 sits 125% above its own trend.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 576 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation Multiplesvs Biotechnology median · lower = cheaper
Context: sector, industry, market
- Is the Health Care sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Biotechnology stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Vertex Pharmaceuticals Incorporated VRTX | $527.67 | $580.44 | +10% |
| Regeneron Pharmaceuticals, Inc REGN | $752.25 | $1,275 | +69% |
| argenx SE ARGX | $959.49 | $918.60 | −4% |
| CSL Limited CSL | A$175.35 | A$192.89 | +10% |
| Samsung Biologics Co 207940 | 1,354,000 KRW | 1,489,400 KRW | +10% |
| BeOne Medicines AG ONC | $360.85 | $280.94 | −22% |
| Alnylam Pharmaceuticals, Inc ALNY | $255.96 | $217.88 | −15% |
| Royalty Pharma plc RPRX | $58.21 | $19.01 | −67% |
| Celltrion, Inc 068270 | 177,400 KRW | 74,519 KRW | −58% |
| WuXi Biologics (Cayman) Inc 2269 | HK$53.00 | HK$58.30 | +10% |
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Frequently asked questions
Is Lakefront Biotherapeutics NV (GLPGF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $122.59 versus a price of $31.95, about +284% upside (undervalued).
What is the fair value of GLPGF?
Our model-based fair value for Lakefront Biotherapeutics NV is $122.59 (as of Sep 24, 2026), built from audited fundamentals. The current price: $31.95.
What is the quality score of GLPGF?
Lakefront Biotherapeutics NV has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Lakefront Biotherapeutics NV (GLPGF)?
Our model-based price target is the fair value of $122.59 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario $91.95, optimistic scenario $198.49. It is a calculation from audited fundamentals, not an analyst target.
What is the Lakefront Biotherapeutics NV stock forecast for 2026?
Our models put fair value at $122.59, about +284% upside versus a price of $31.95 (undervalued). Cautious scenario $91.95, optimistic scenario $198.49. The calculation is refreshed regularly with new filings.
What is the revenue of Lakefront Biotherapeutics NV (GLPGF)?
Lakefront Biotherapeutics NV reported trailing-twelve-month revenue of about €1.0B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Lakefront Biotherapeutics NV (GLPGF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lakefront Biotherapeutics NV it is $122.59 per share (as of Sep 24, 2026), against a price of $31.95. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Lakefront Biotherapeutics NV stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GLPGF trades below its calculated fair value: price $31.95, fair value $122.59, a gap of about +284% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GLPGF?
No. The price is what the market pays today ($31.95); the fair value is what the company's own numbers justify ($122.59). For Lakefront Biotherapeutics NV the two are $90.64 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lakefront Biotherapeutics NV worth?
The market values Lakefront Biotherapeutics NV at about $3.2B (market capitalisation, as of Sep 24, 2026). Per share that is $31.95; our models calculate a fair value of $122.59 per share.
What do the bullish and bearish scenarios say about GLPGF?
Our models span a range for Lakefront Biotherapeutics NV: cautious scenario $91.95, base $122.59, optimistic $198.49 per share (as of Sep 24, 2026, price $31.95). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GLPGF?
Lakefront Biotherapeutics NV trades at a price-to-earnings ratio of 3.7 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $122.59 is built from several models across several years. Other multiples: P/B 1.0, P/S 3.1, EV/EBITDA 4.7.
How solid is the balance sheet of Lakefront Biotherapeutics NV (GLPGF)?
Balance-sheet figures for Lakefront Biotherapeutics NV (as of Sep 24, 2026): return on equity 16.3%. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is GLPGF from its 52-week high?
Lakefront Biotherapeutics NV trades at $31.95, about 6% below its 52-week high of $34.00 and 22% above the low of $26.24 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $122.59 is for.
Which stocks are comparable to Lakefront Biotherapeutics NV?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, argenx SE, CSL Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Lakefront Biotherapeutics NV stock attractive at the current price?
The data as of Sep 24, 2026: price $31.95, calculated fair value $122.59 (+284%), Quality Score 70/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GLPGF calculated?
We run Lakefront Biotherapeutics NV through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $122.59, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Lakefront Biotherapeutics NV currently trades 74 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Lakefront Biotherapeutics NV (GLPGF)?
The closing price on Oct 2, 2026 was $31.95. Our model-based fair value is $122.59, about +284% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lakefront Biotherapeutics NV right now?
The rarer combination: high quality (70/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case ($91.95). The market is more pessimistic than our downside scenario. A fairly wide model range ($91.95 to $198.49) leaves room in how you read the outcome.
Key figures of Lakefront Biotherapeutics NV
How large is the market capitalisation of Lakefront Biotherapeutics NV (GLPGF)?
The market capitalisation of Lakefront Biotherapeutics NV is $3.2B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Lakefront Biotherapeutics NV (GLPGF)?
The price-to-sales ratio of Lakefront Biotherapeutics NV is 1.07 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lakefront Biotherapeutics NV (GLPGF)?
Earnings per share at Lakefront Biotherapeutics NV are $8.59 (price ÷ EPS = P/E 3.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Lakefront Biotherapeutics NV (GLPGF)?
The net margin of Lakefront Biotherapeutics NV is 28.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Lakefront Biotherapeutics NV (GLPGF)?
The return on equity (ROE) of Lakefront Biotherapeutics NV is 16.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Lakefront Biotherapeutics NV (GLPGF)?
On an EBIT basis the return on assets of Lakefront Biotherapeutics NV is −0.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Lakefront Biotherapeutics NV (GLPGF)?
The operating margin of Lakefront Biotherapeutics NV is −983% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lakefront Biotherapeutics NV (GLPGF)?
Revenue at Lakefront Biotherapeutics NV is growing −91.4% versus a year earlier (3y avg +30.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Lakefront Biotherapeutics NV (GLPGF)?
Earnings per share at Lakefront Biotherapeutics NV are growing +30.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Lakefront Biotherapeutics NV (GLPGF) generate?
The free cash flow of Lakefront Biotherapeutics NV is −€211M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Lakefront Biotherapeutics NV (GLPGF) hold?
Lakefront Biotherapeutics NV holds more cash than debt, €80.9M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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