Galapagos (NASDAQ:GLPG) Cut to “Strong Sell” at TD Cowen

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

GLPG has been the topic of several other research reports. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.75.

Galapagos Stock Performance

Shares of GLPG stock opened at $25.65 on Thursday. The stock’s 50 day simple moving average is $27.23 and its two-hundred day simple moving average 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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC grew its stake in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC boosted its position in Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 736 shares during the last quarter. Rhumbline Advisers increased its holdings in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after buying an additional 1,510 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Galapagos by 65.6% during the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 2,541 shares during the period. 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.