Galapagos (NASDAQ:GLPG) Rating Lowered to “Strong Sell” at TD Cowen

Galapagos (NASDAQ:GLPG) was downgraded by equities research analysts at TD Cowen from a “strong-buy” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on the stock. Royal Bank of Canada decreased their price objective 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. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Stock Performance

Galapagos stock opened at $28.17 on Thursday. Galapagos has a 12-month low of $24.16 and a 12-month high of $42.40. The firm has a 50-day moving average price of $27.22 and a 200-day moving average price of $27.50.

Institutional Trading of Galapagos

Large investors have recently modified their holdings of the company. Primecap Management Co. CA increased its holdings in Galapagos by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock worth $17,848,000 after purchasing an additional 5,000 shares during the period. Finepoint Capital LP increased its stake in shares of Galapagos by 2.8% during the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after buying an additional 15,000 shares during the period. Stonepine Capital Management LLC raised its holdings in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after acquiring an additional 91,366 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Galapagos by 5.3% in the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after acquiring an additional 17,089 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Galapagos by 1.6% in the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after acquiring an additional 4,300 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

About Galapagos

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.