Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Should You Buy?

Galapagos NV (NASDAQ:GLPG) saw strong trading volume on Thursday . 95,525 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 139,724 shares.The stock last traded at $27.90 and had previously closed at $27.56.

Analyst Upgrades and Downgrades

GLPG has been the topic of several research analyst reports. Leerink Partnrs upgraded Galapagos to a “hold” rating in a research report on Monday, September 9th. Raymond James cut Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Royal Bank of Canada lowered their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, Leerink Partners began coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Galapagos currently has an average rating of “Hold” and a consensus price target of $30.75.

Galapagos Stock Down 3.9 %

The stock has a fifty day moving average price of $28.91 and a 200 day moving average price of $27.61.

Institutional Investors Weigh In On Galapagos

Several institutional investors have recently made changes to their positions in the company. Erste Asset Management GmbH purchased a new stake in Galapagos in the third quarter worth $410,000. Finepoint Capital LP increased 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 buying an additional 15,000 shares during the period. Crossmark Global Holdings Inc. bought a new stake in Galapagos during the 3rd quarter valued at about $1,077,000. QRG Capital Management Inc. purchased a new stake in Galapagos in the 3rd quarter valued at about $247,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in 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 buying an additional 1,510 shares during the period. Institutional investors own 32.46% of the company’s stock.

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.