Galapagos (NASDAQ:GLPG) Downgraded to Strong Sell Rating by TD Cowen

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

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

Galapagos Price Performance

Galapagos stock opened at $28.17 on Thursday. Galapagos has a 1-year low of $24.16 and a 1-year high of $42.40. The business has a fifty day moving average price of $27.22 and a 200-day moving average price of $27.50.

Institutional Trading of Galapagos

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