Galapagos (NASDAQ:GLPG) Given “Equal Weight” Rating at Morgan Stanley

Morgan Stanley reissued their equal weight rating on shares of Galapagos (NASDAQ:GLPG) in a research note released on Monday morning, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock.

Several other analysts have also issued reports on the company. Bank of America reiterated an underperform rating and set a $31.00 target price (down previously from $41.00) on shares of Galapagos in a report on Thursday, March 28th. StockNews.com downgraded Galapagos from a buy rating to a hold rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $34.50.

Galapagos Price Performance

Shares of Galapagos stock opened at $28.77 on Monday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of -12.56 and a beta of 0.24. The stock’s 50-day moving average is $33.72 and its 200-day moving average is $36.36. Galapagos has a one year low of $28.76 and a one year high of $45.21.

Institutional Investors Weigh In On Galapagos

A number of large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its position in Galapagos by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 495,217 shares of the biotechnology company’s stock worth $20,131,000 after buying an additional 18,552 shares in the last quarter. Greenlight Capital Inc. grew its position in Galapagos by 4.0% during the fourth quarter. Greenlight Capital Inc. now owns 162,578 shares of the biotechnology company’s stock worth $6,609,000 after buying an additional 6,200 shares in the last quarter. Barometer Capital Management Inc. acquired a new stake in Galapagos during the fourth quarter worth approximately $122,000. Vestal Point Capital LP acquired a new stake in Galapagos during the fourth quarter worth approximately $5,284,000. Finally, Tower Research Capital LLC TRC grew its position in Galapagos by 2,317.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,934 shares of the biotechnology company’s stock worth $79,000 after buying an additional 1,854 shares in the last quarter. Institutional investors and hedge funds 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.