Royal Bank of Canada Cuts Galapagos (NASDAQ:GLPG) Price Target to $30.00

Galapagos (NASDAQ:GLPG) had its price target reduced by Royal Bank of Canada from $32.00 to $30.00 in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the biotechnology company’s stock.

A number of other equities analysts have also recently issued reports on GLPG. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Leerink Partners initiated coverage on shares of Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective on the stock. Finally, Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.75.

Galapagos Trading Up 1.7 %

Shares of NASDAQ:GLPG opened at $26.89 on Friday. The company’s fifty day moving average is $29.24 and its 200 day moving average is $27.71. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.46.

Institutional Investors Weigh In On Galapagos

Large investors have recently modified their holdings of the stock. Headlands Technologies LLC boosted its stake in shares of Galapagos by 949.3% during the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 712 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of 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 valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Galapagos by 21.6% during 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 in the last quarter. Institutional investors own 32.46% of the company’s stock.

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.