Galapagos NV (NASDAQ:GLPG) Receives $26.75 Average PT from Analysts

Shares of Galapagos NV (NASDAQ:GLPG) have been given an average rating of “Strong Sell” by the nine analysts that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.75.

Several research analysts recently issued reports on the stock. Barclays restated an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. TD Cowen lowered Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Finally, Morgan Stanley downgraded Galapagos from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $31.00 to $22.00 in a research report on Friday, February 14th.

Galapagos Trading Down 2.8 %

Shares of Galapagos stock opened at $25.83 on Tuesday. Galapagos has a 52 week low of $22.36 and a 52 week high of $34.98. The firm’s 50 day moving average is $25.27 and its two-hundred day moving average is $27.18.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLPG. Gilead Sciences Inc. acquired a new stake in shares of Galapagos during the fourth quarter worth approximately $461,727,000. Tang Capital Management LLC raised its holdings in Galapagos by 208.7% during the 4th quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock worth $59,433,000 after buying an additional 1,461,200 shares during the period. Deep Track Capital LP acquired a new position in shares of Galapagos in the 4th quarter valued at about $21,471,000. Norges Bank acquired a new position in shares of Galapagos in the 4th quarter valued at about $3,300,000. Finally, Finepoint Capital LP increased its holdings in Galapagos by 21.0% in the fourth quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company’s stock worth $18,556,000 after buying an additional 117,000 shares during the last quarter. Institutional investors and hedge funds 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.