Galapagos (NASDAQ:GLPG) Shares Cross Below 200 Day Moving Average of $34.04

Galapagos NV (NASDAQ:GLPG) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $34.04 and traded as low as $25.61. Galapagos shares last traded at $25.63, with a volume of 65,159 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on GLPG shares. Bank of America reaffirmed an “underperform” rating and issued a $31.00 price objective (down previously from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $38.00 price objective on shares of Galapagos in a research note on Monday, April 22nd. Finally, StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th.

Galapagos Stock Performance

The stock’s 50 day moving average is $28.06 and its 200 day moving average is $34.04.

Galapagos (NASDAQ:GLPG) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.51. The firm had revenue of $67.79 million for the quarter, compared to the consensus estimate of $69.04 million. Galapagos had a negative return on equity of 2.60% and a negative net margin of 26.25%. As a group, research analysts predict that Galapagos NV will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its position in shares of Galapagos by 18.5% during the first quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock valued at $488,000 after buying an additional 2,366 shares during the period. Monaco Asset Management SAM increased its holdings in Galapagos by 148.3% during the 1st quarter. Monaco Asset Management SAM now owns 16,744 shares of the biotechnology company’s stock worth $539,000 after acquiring an additional 10,000 shares during the period. Headlands Technologies LLC lifted its stake in Galapagos by 949.3% in the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 712 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Galapagos by 783.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 4,725 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Galapagos by 66.4% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 3,769 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 1,504 shares in the last quarter. 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.