TD Cowen Downgrades Galapagos (NASDAQ:GLPG) to Strong Sell

TD Cowen downgraded shares of Galapagos (NASDAQ:GLPG - Free Report) from a strong-buy rating to a strong sell rating in a report published on Thursday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on GLPG. Royal Bank of Canada lowered their price objective 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. Kepler Capital Markets cut Galapagos from a "hold" rating to a "reduce" rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $30.75.

Galapagos Trading Down 8.9 %

NASDAQ GLPG traded down $2.52 during trading hours on Thursday, hitting $25.65. 619,519 shares of the company's stock were exchanged, compared to its average volume of 288,220. The stock has a 50-day simple moving average of $27.26 and a 200 day simple moving average of $27.50. Galapagos has a 1-year low of $24.16 and a 1-year high of $40.34.

Institutional Investors Weigh In On Galapagos

Large investors have recently modified their holdings of the business. Headlands Technologies LLC increased its stake in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company's stock worth $31,000 after buying an additional 446 shares during the period. GAMMA Investing LLC grew its holdings in shares of Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 736 shares during the last quarter. Rhumbline Advisers increased its position in Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company's stock worth $113,000 after buying an additional 814 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of Galapagos by 63.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company's stock valued at $112,000 after acquiring an additional 1,510 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company's stock valued at $185,000 after buying an additional 2,541 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company's stock.

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.