Wall Street Trader schreef op 11 augustus 2020 12:17:
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Analyst companies(banks) follow particular stocks, industries, companies, markets and produce reports that are often for sale (sometimes for hundreds or even thousands of dollars) or available through a subscription (Bloomberg Terminal) or to particular institutional investors or to the companies the analysts cover.
If you want to understand equity research reports, you have to understand first why banks publish them:
to earn higher commissions from trading activity.That's probably why for example Goldman Sachs rated Galapagos stock so low. Because they still hold a grudge against them for not going for their services.
During the NASDAQ IPO of Galapagos in May 2015 Morgan Stanley, Credit Suisse and Cowen and Company were acting as joint book-running managers, and Nomura and Bryan, Garnier & Co. were acting as co-managers, for the global offering. Morgan Stanley was acting as stabilization agent on behalf of the underwriters.
In September 2018, Morgan Stanley and Citigroup were acting as joint book-running managers for the USD 345 million public offering and Kempen acted as Co-Manager to Galapagos.
Guess what!? they are all covering the Galapagos stock in their analyst reports.
What a coincidence! ;-)
This page shows changes in the ownership structure by listing institutions, funds, and major shareholders that have increased their holdings or opened new positions in the last reporting period.Institutional and Fund Ownership - Buyers
fintel.io/sob/us/glpgAnd don't forget to check Dar-win's Shareholders posts;www.iex.nl/Forum/Post/12595970.aspx