Galapagos NV (NASDAQ:GLPG) Receives Average Recommendation of "Reduce" from Analysts

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the seven brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.75.

A number of equities research analysts recently commented on GLPG shares. Kepler Capital Markets downgraded Galapagos from a "hold" rating to a "reduce" rating in a report on Wednesday, November 20th. Royal Bank of Canada cut their price target on shares of Galapagos from $32.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Friday, November 1st. Leerink Partnrs raised shares of Galapagos to a "hold" rating in a research note on Monday, September 9th. Finally, Leerink Partners began coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a "market perform" rating and a $24.00 target price for the company.

Galapagos Stock Performance

Shares of Galapagos stock traded down $0.28 on Thursday, hitting $26.37. 347,510 shares of the company's stock traded hands, compared to its average volume of 152,329. The firm's 50-day moving average price is $27.83 and its two-hundred day moving average price is $27.37. Galapagos has a one year low of $24.16 and a one year high of $42.46.

Institutional Trading of Galapagos

Large investors have recently bought and sold shares of the business. Erste Asset Management GmbH acquired a new position in shares of Galapagos in the third quarter valued at approximately $410,000. Finepoint Capital LP boosted its stake in Galapagos by 2.8% in the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company's stock worth $16,058,000 after purchasing an additional 15,000 shares during the period. Crossmark Global Holdings Inc. bought a new position in Galapagos during the 3rd quarter worth about $1,077,000. QRG Capital Management Inc. acquired a new stake in shares of Galapagos in the 3rd quarter valued at about $247,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings 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 valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

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.