Raymond James Downgrades Galapagos (NASDAQ:GLPG) to Market Perform

Raymond James downgraded shares of Galapagos (NASDAQ:GLPG) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning, MarketBeat reports.

Separately, Morgan Stanley reaffirmed an equal weight rating and issued a $38.00 target price on shares of Galapagos in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $34.50.

Galapagos Trading Up 2.4 %

Shares of NASDAQ GLPG traded up $0.60 during mid-day trading on Friday, reaching $25.45. The company had a trading volume of 83,114 shares, compared to its average volume of 122,310. The firm has a 50 day simple moving average of $26.40 and a two-hundred day simple moving average of $30.95. Galapagos has a 52-week low of $24.77 and a 52-week high of $42.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLPG. China Universal Asset Management Co. Ltd. grew its position in Galapagos by 357.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock worth $92,000 after purchasing an additional 1,770 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Galapagos by 78.6% in the 4th quarter. Signaturefd LLC now owns 1,970 shares of the biotechnology company’s stock worth $80,000 after acquiring an additional 867 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Galapagos in the 4th quarter worth $44,000. Quadrant Capital Group LLC lifted its stake in shares of Galapagos by 18.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 261 shares during the period. Finally, Primecap Management Co. CA lifted its stake in shares of Galapagos by 1.4% in the 4th quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock worth $27,596,000 after acquiring an additional 9,200 shares during the period. 32.46% of the stock is 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.