TD Cowen Downgrades Galapagos (NASDAQ:GLPG) to Strong Sell

TD Cowen cut shares of Galapagos (NASDAQ:GLPG) from a strong-buy rating to a strong sell rating in a report released on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their price objective on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 8.9 %

Shares of NASDAQ:GLPG opened at $25.65 on Thursday. The business’s 50 day moving average price is $27.23 and its 200-day moving average price is $27.51. Galapagos has a 1 year low of $24.16 and a 1 year high of $40.34.

Hedge Funds Weigh In On Galapagos

A number of institutional investors have recently added to or reduced their stakes in GLPG. Headlands Technologies LLC increased its stake in shares of Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 446 shares during the last quarter. GAMMA Investing LLC increased its position in Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 736 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 1,510 shares during the period. Rhumbline Advisers boosted its holdings 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 purchasing an additional 814 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of Galapagos by 65.6% in the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after buying an additional 2,541 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.