Galapagos (NASDAQ:GLPG) Earns Market Perform Rating from Analysts at Leerink Partners

Leerink Partners assumed coverage on shares of Galapagos (NASDAQ:GLPG) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm issued a market perform rating and a $24.00 price target on the biotechnology company’s stock.

Separately, Raymond James downgraded Galapagos from an outperform rating to a market perform rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $31.00.

Galapagos Trading Up 0.3 %

Shares of GLPG opened at $29.30 on Monday. The stock has a 50 day moving average of $26.72 and a 200-day moving average of $28.71. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.46.

Institutional Trading of Galapagos

Several hedge funds have recently made changes to their positions in the stock. Primecap Management Co. CA raised its stake in Galapagos by 1.4% during the 4th quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock valued at $27,596,000 after acquiring an additional 9,200 shares in the last quarter. Wellington Management Group LLP raised its stake in Galapagos by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 495,217 shares of the biotechnology company’s stock valued at $20,131,000 after acquiring an additional 18,552 shares in the last quarter. Vestal Point Capital LP bought a new stake in Galapagos during the 4th quarter valued at $5,284,000. BNP Paribas Financial Markets raised its stake in Galapagos by 783.6% during the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock valued at $172,000 after acquiring an additional 4,725 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Galapagos by 18.5% during the 1st quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock valued at $488,000 after acquiring an additional 2,366 shares in the last quarter. 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.