Barclays Reiterates Underweight Rating for Galapagos (NASDAQ:GLPG)

Galapagos (NASDAQ:GLPG)‘s stock had its “underweight” rating reaffirmed by Barclays in a research report issued to clients and investors on Thursday,Benzinga reports.

Several other research firms also recently issued reports on GLPG. Royal Bank of Canada dropped their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, TD Cowen cut Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Four investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Based on data from MarketBeat, Galapagos presently has an average rating of “Hold” and an average price target of $30.75.

Galapagos Stock Down 0.2 %

Shares of GLPG stock opened at $23.70 on Thursday. Galapagos has a 1 year low of $23.45 and a 1 year high of $40.34. The firm’s fifty day simple moving average is $26.55 and its 200 day simple moving average is $27.41.

Hedge Funds Weigh In On Galapagos

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new stake in Galapagos in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted 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 in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Galapagos by 63.2% in 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. Rhumbline Advisers grew its holdings in shares of 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 purchasing an additional 814 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of Galapagos by 65.6% during the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares in the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.