Brokerages Set Galapagos NV (NASDAQ:GLPG) PT at $26.75

Galapagos NV (NASDAQ:GLPG) has been assigned an average rating of “Strong Sell” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $26.75.

Several equities research analysts have recently issued reports on GLPG shares. Morgan Stanley lowered shares of Galapagos from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Barclays reiterated an “underweight” rating on shares of Galapagos in a report on Thursday, January 23rd. Finally, TD Cowen cut shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th.

Galapagos Stock Down 2.8 %

Shares of GLPG opened at $25.83 on Tuesday. The business’s 50-day moving average is $25.27 and its two-hundred day moving average is $27.18. Galapagos has a fifty-two week low of $22.36 and a fifty-two week high of $34.98.

Institutional Trading of Galapagos

Several institutional investors and hedge funds have recently bought and sold shares of GLPG. Woodline Partners LP acquired a new stake in Galapagos in the fourth quarter valued at approximately $1,262,000. Tang Capital Management LLC increased its position in shares of Galapagos by 208.7% in the 4th quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock valued at $59,433,000 after purchasing an additional 1,461,200 shares during the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Galapagos by 8.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company’s stock valued at $15,243,000 after purchasing an additional 44,300 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Galapagos during the 4th quarter worth $21,471,000. Finally, Bank of America Corp DE lifted its position in shares of Galapagos by 19.6% during the 4th quarter. Bank of America Corp DE now owns 22,454 shares of the biotechnology company’s stock worth $617,000 after purchasing an additional 3,684 shares during the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

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.