TD Cowen Downgrades Galapagos (NASDAQ:GLPG) to Strong Sell

TD Cowen downgraded shares of Galapagos (NASDAQ:GLPG) from a strong-buy rating to a strong sell rating in a research note published on Thursday morning,Zacks.com reports.

Several other analysts have also issued reports on the stock. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 2.2 %

Shares of NASDAQ:GLPG opened at $28.17 on Thursday. The business’s 50 day moving average price is $27.22 and its 200-day moving average price is $27.50. Galapagos has a 1 year low of $24.16 and a 1 year high of $42.40.

Institutional Trading of Galapagos

Hedge funds have recently bought and sold shares of the business. Stonepine Capital Management LLC grew its holdings in Galapagos by 23.2% in the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after buying an additional 91,366 shares in the last quarter. DME Capital Management LP raised its stake in Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after purchasing an additional 75,000 shares during the period. Crossmark Global Holdings Inc. acquired a new position in Galapagos in the 3rd quarter valued at about $1,077,000. Creative Planning purchased a new stake in shares of Galapagos in the 2nd quarter valued at approximately $456,000. Finally, Millennium Management LLC increased its holdings in shares of Galapagos by 5.3% during the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after buying an additional 17,089 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

About Galapagos

Galapagos 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 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.