Galapagos (NASDAQ:GLPG – Get Free Report)‘s stock had its “underperform” rating reiterated by equities researchers at Bank of America in a research note issued on Thursday, MarketBeat Ratings reports. They currently have a $31.00 target price on the biotechnology company’s stock, down from their previous target price of $41.00. Bank of America‘s price objective suggests a potential downside of 5.92% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Galapagos from a “buy” rating to a “hold” rating in a report on Monday, March 18th. Morgan Stanley assumed coverage on shares of Galapagos in a report on Thursday, March 7th. They set an “equal weight” rating and a $38.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.50.
Get Our Latest Analysis on Galapagos
Galapagos Stock Performance
Hedge Funds Weigh In On Galapagos
Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in shares of Galapagos in the 1st quarter worth $25,000. BNP Paribas Financial Markets boosted its position in shares of Galapagos by 96.4% in the fourth quarter. BNP Paribas Financial Markets now owns 603 shares of the biotechnology company’s stock worth $25,000 after buying an additional 296 shares during the period. US Bancorp DE raised its position in Galapagos by 157.4% during the fourth quarter. US Bancorp DE now owns 821 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 502 shares during the period. Tower Research Capital LLC TRC lifted its stake in Galapagos by 147.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 676 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new position in Galapagos during the 4th quarter valued at about $44,000. Institutional investors own 32.46% of the company’s stock.
Galapagos Company Profile
Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.
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