Galapagos (NASDAQ:GLPG) Shares Gap Up - Should You Buy?

Galapagos NV (NASDAQ:GLPG - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $25.44, but opened at $26.79. Galapagos shares last traded at $26.90, with a volume of 67,197 shares.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GLPG shares. Morgan Stanley cut Galapagos from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $31.00 to $22.00 in a report on Friday, February 14th. Barclays restated an "underweight" rating on shares of Galapagos in a report on Thursday, January 23rd. Royal Bank of Canada decreased their price target on Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. TD Cowen cut Galapagos from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, January 9th. Finally, Kepler Capital Markets cut Galapagos from a "hold" rating to a "reduce" rating in a report on Wednesday, November 20th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.75.

Galapagos Stock Performance

The company has a 50-day moving average of $25.42 and a 200-day moving average of $27.06.

Institutional Investors Weigh In On Galapagos

Several large investors have recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new stake in Galapagos in the fourth quarter worth $26,000. GAMMA Investing LLC grew its stake in shares of Galapagos by 77.4% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company's stock worth $61,000 after purchasing an additional 974 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Galapagos by 5.9% in the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company's stock worth $711,000 after purchasing an additional 1,431 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Galapagos by 63.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company's stock worth $112,000 after purchasing an additional 1,510 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of Galapagos by 21.7% in the fourth quarter. QRG Capital Management Inc. now owns 10,455 shares of the biotechnology company's stock worth $288,000 after purchasing an additional 1,866 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.