Galapagos NV (NASDAQ:GLPG) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Galapagos NV (NASDAQ:GLPG) have received an average recommendation of “Reduce” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $30.75.

A number of research firms have weighed in on GLPG. 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 report on Friday, November 1st. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday. Leerink Partnrs raised Galapagos to a “hold” rating in a research report on Monday, September 9th. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, 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 price target on the stock.

Galapagos Price Performance

NASDAQ GLPG opened at $27.13 on Friday. The company’s fifty day simple moving average is $28.62 and its 200-day simple moving average is $27.51. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.46.

Hedge Funds Weigh In On Galapagos

Several large investors have recently added to or reduced their stakes in GLPG. Stonepine Capital Management LLC raised its holdings in shares of Galapagos by 23.2% during the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after purchasing an additional 91,366 shares during the period. DME Capital Management LP grew its position in shares of Galapagos by 46.9% during the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after buying an additional 75,000 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in Galapagos during the third quarter worth about $1,077,000. Creative Planning bought a new position in Galapagos in the second quarter worth about $456,000. Finally, Millennium Management LLC boosted its stake in 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 during the period. 32.46% of the stock is currently owned by 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.