Galapagos (NASDAQ:GLPG) Cut to “Reduce” at Kepler Capital Markets

Galapagos (NASDAQ:GLPG) was downgraded by equities researchers at Kepler Capital Markets from a “hold” rating to a “reduce” rating in a research report issued on Wednesday, MarketBeat.com reports.

Several other analysts have also commented on GLPG. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Leerink Partners started coverage on shares of Galapagos in a research report on Monday, September 9th. They set a “market perform” rating and a $24.00 price target for the company. Raymond James lowered shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Price Performance

GLPG stock opened at $25.17 on Wednesday. The firm has a 50-day simple moving average of $28.76 and a two-hundred day simple moving average of $27.54. Galapagos has a one year low of $24.16 and a one year high of $42.46.

Hedge Funds Weigh In On Galapagos

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new position in shares of Galapagos in the 2nd quarter valued at approximately $456,000. Signaturefd LLC raised its position in Galapagos by 65.6% during the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,541 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Galapagos during the 3rd quarter worth approximately $1,077,000. Headlands Technologies LLC raised its position in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the last quarter. Finally, Stonepine Capital Management LLC raised its position in Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares during the last quarter. 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.