Galapagos NV (NASDAQ:GLPG) Given Consensus Rating of “Reduce” by Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have received a consensus recommendation of “Reduce” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $30.75.

Several research firms recently commented on GLPG. Royal Bank of Canada reduced 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. Leerink Partners assumed coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price for the company. Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH acquired a new stake in Galapagos in the third quarter valued at $410,000. Finepoint Capital LP lifted its stake in shares of Galapagos by 2.8% in the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after purchasing an additional 15,000 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in Galapagos during the third quarter worth about $1,077,000. QRG Capital Management Inc. acquired a new position in Galapagos during the third quarter worth about $247,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Galapagos by 63.2% in 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 purchasing an additional 1,510 shares in the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

Galapagos Trading Up 1.2 %

Shares of NASDAQ GLPG opened at $27.09 on Thursday. Galapagos has a twelve month low of $24.16 and a twelve month high of $42.46. The stock has a 50 day moving average of $27.67 and a two-hundred day moving average of $27.36.

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.