Galapagos NV (NASDAQ:GLPG) Receives $30.75 Average PT from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have been given an average recommendation of “Reduce” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $30.75.

Several brokerages recently commented on GLPG. Leerink Partners started coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target for the company. Royal Bank of Canada cut their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Leerink Partnrs upgraded Galapagos to a “hold” rating in a report on Monday, September 9th. Finally, Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th.

Galapagos Stock Performance

Galapagos stock opened at $27.64 on Friday. The business has a 50 day simple moving average of $28.34 and a 200-day simple moving average of $27.47. Galapagos has a 12 month low of $24.16 and a 12 month high of $42.46.

Hedge Funds Weigh In On Galapagos

A number of hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC lifted its stake in Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 446 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 736 shares during the period. Signaturefd LLC lifted its stake in Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,510 shares during the period. Finally, Rhumbline Advisers grew its position in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares in the last quarter. Hedge funds and other 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.