Kepler Capital Markets Downgrades Galapagos (NASDAQ:GLPG) to Reduce

Kepler Capital Markets downgraded shares of Galapagos (NASDAQ:GLPG - Free Report) from a hold rating to a reduce rating in a report released on Wednesday, Marketbeat.com reports.

GLPG has been the topic of a number of other research reports. Raymond James cut Galapagos from an "outperform" rating to a "market perform" rating in a research note on Friday, August 2nd. Royal Bank of Canada reduced their price objective 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. Leerink Partners began coverage on Galapagos in a research note on Monday, September 9th. They issued a "market perform" rating and a $24.00 price target on the stock. Finally, Leerink Partnrs upgraded Galapagos to a "hold" rating in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.75.

Galapagos Price Performance

Shares of NASDAQ:GLPG traded down $1.05 during midday trading on Wednesday, reaching $25.64. The company's stock had a trading volume of 489,627 shares, compared to its average volume of 148,529. Galapagos has a 1 year low of $24.16 and a 1 year high of $42.46. The business has a 50 day moving average price of $28.83 and a 200 day moving average price of $27.56.

Hedge Funds Weigh In On Galapagos

Hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA lifted its stake in shares of Galapagos by 0.7% in the second quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company's stock valued at $17,848,000 after buying an additional 5,000 shares during the period. Finepoint Capital LP increased its holdings in shares of Galapagos by 2.8% during the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company's stock worth $16,058,000 after buying an additional 15,000 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in shares of Galapagos by 23.2% during the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company's stock worth $12,018,000 after buying an additional 91,366 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company's stock worth $8,466,000 after buying an additional 17,089 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Galapagos by 1.6% during the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company's stock worth $6,710,000 after buying an additional 4,300 shares in the last quarter. 32.46% of the stock is 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.