Galapagos NV (NASDAQ:GLPG) Receives Consensus Rating of "Reduce" from Brokerages

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

Several research analysts have commented on the company. Kepler Capital Markets downgraded Galapagos from a "hold" rating to a "reduce" rating in a research note on Wednesday. Leerink Partnrs raised shares of Galapagos to a "hold" rating in a report on Monday, September 9th. Royal Bank of Canada decreased their target price on Galapagos from $32.00 to $30.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Raymond James lowered Galapagos from an "outperform" rating to a "market perform" rating in a research note on Friday, August 2nd. Finally, Leerink Partners assumed coverage on shares of Galapagos in a report on Monday, September 9th. They issued a "market perform" rating and a $24.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GLPG. Stonepine Capital Management LLC grew its stake in shares of 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 last quarter. DME Capital Management LP lifted its position in Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company's stock valued at $5,819,000 after purchasing an additional 75,000 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Galapagos in the 3rd quarter worth $1,077,000. Creative Planning purchased a new stake in Galapagos during the second quarter valued at approximately $456,000. Finally, Millennium Management LLC increased its stake in shares of Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company's stock worth $8,466,000 after purchasing an additional 17,089 shares in the last quarter. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Stock Performance

Shares of GLPG traded up $1.91 during mid-day trading on Friday, hitting $27.13. The stock had a trading volume of 277,222 shares, compared to its average volume of 338,107. The business has a fifty day moving average price of $28.62 and a 200-day moving average price of $27.49. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.46.

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.