Galapagos NV (NASDAQ:GLPG - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $28.17, but opened at $27.00. Galapagos shares last traded at $26.52, with a volume of 67,673 shares.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on GLPG shares. Kepler Capital Markets lowered Galapagos from a "hold" rating to a "reduce" rating in a research report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on shares of Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Finally, TD Cowen cut shares of Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $30.75.
Read Our Latest Stock Report on GLPG
Galapagos Stock Performance
The business's fifty day moving average price is $27.26 and its 200-day moving average price is $27.50.
Hedge Funds Weigh In On Galapagos
Institutional investors and hedge funds have recently modified their holdings of the company. Stonepine Capital Management LLC raised its position in Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company's stock worth $12,018,000 after acquiring an additional 91,366 shares during the period. DME Capital Management LP increased its stake in shares of Galapagos by 46.9% in the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company's stock worth $5,819,000 after purchasing an additional 75,000 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Galapagos in the 3rd quarter worth $1,077,000. Creative Planning purchased a new position in Galapagos during the second quarter valued at $456,000. Finally, Millennium Management LLC lifted its position in Galapagos by 5.3% during the second quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company's stock valued at $8,466,000 after purchasing an additional 17,089 shares in the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.
About Galapagos
(
Get Free Report)
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.
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