Galapagos NV (NASDAQ:GLPG) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Galapagos NV (NASDAQ:GLPG) have been assigned a consensus rating of “Reduce” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $30.75.

A number of equities analysts have recently issued reports on the company. Leerink Partners began coverage on Galapagos in a research note on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st.

Galapagos Stock Performance

Shares of GLPG opened at $26.65 on Thursday. The company’s 50 day simple moving average is $27.89 and its 200-day simple moving average is $27.37. Galapagos has a 12-month low of $24.16 and a 12-month high of $42.46.

Institutional Trading of Galapagos

A number of institutional investors and hedge funds have recently made changes to their positions in GLPG. Headlands Technologies LLC boosted 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 purchasing an additional 446 shares during the period. GAMMA Investing LLC boosted its position in shares of Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after buying an additional 736 shares during the period. Signaturefd LLC grew its stake in shares of Galapagos by 48.1% in the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings 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 buying an additional 1,510 shares during the period. Finally, Rhumbline Advisers raised its holdings 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 buying an additional 814 shares during the period. 32.46% of the stock is currently owned by institutional investors and hedge funds.

About Galapagos

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.