Galapagos’ (GLPG) Underperform Rating Reiterated at Bank of America

Galapagos (NASDAQ:GLPG)‘s stock had its “underperform” rating reissued by analysts at Bank of America in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $31.00 target price on the biotechnology company’s stock, down from their previous target price of $41.00. Bank of America‘s price target suggests a potential downside of 5.92% from the stock’s previous close.

A number of other brokerages have also weighed in on GLPG. StockNews.com lowered Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Morgan Stanley started coverage on Galapagos in a report on Thursday, March 7th. They set an “equal weight” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Galapagos Stock Performance

GLPG stock opened at $32.95 on Thursday. The company’s fifty day moving average price is $36.57 and its 200-day moving average price is $36.94. Galapagos has a one year low of $31.86 and a one year high of $45.21. The company has a market capitalization of $2.17 billion, a PE ratio of -14.39 and a beta of 0.26.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Galapagos by 0.7% in the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after buying an additional 28,497 shares during the period. Point72 Asset Management L.P. increased its stake in Galapagos by 23.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 880,668 shares of the biotechnology company’s stock worth $35,808,000 after buying an additional 165,068 shares during the period. Stonepine Capital Management LLC grew its stake in Galapagos by 17.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock worth $27,728,000 after acquiring an additional 119,880 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of Galapagos by 1.4% during the fourth quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock valued at $27,596,000 after acquiring an additional 9,200 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Galapagos by 46.8% in the first quarter. BlackRock Inc. now owns 517,611 shares of the biotechnology company’s stock worth $32,103,000 after purchasing an additional 164,912 shares in the last quarter. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Company Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.