Galapagos NV (NASDAQ:GLPG) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have been given a consensus rating of “Reduce” by the seven analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.75.

A number of equities research analysts have weighed in on the company. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Leerink Partners began coverage on shares of Galapagos in a research report on Monday, September 9th. They set a “market perform” rating and a $24.00 price target for the company. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada reduced their price objective 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.

Galapagos Price Performance

NASDAQ:GLPG opened at $26.65 on Thursday. Galapagos has a 1-year low of $24.16 and a 1-year high of $42.46. The firm has a 50-day moving average of $27.89 and a two-hundred day moving average of $27.37.

Hedge Funds Weigh In On Galapagos

A number of large investors have recently bought and sold shares of the business. Headlands Technologies LLC boosted its holdings in shares of Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 446 shares during the period. GAMMA Investing LLC lifted its position in Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares during the last quarter. Signaturefd LLC boosted its stake in Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 1,258 shares during the period. China Universal Asset Management Co. Ltd. grew its position in Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares during the period. Institutional investors own 32.46% of the company’s stock.

Galapagos Company Profile

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.