Galapagos NV (NASDAQ:GLPG – Get Free Report)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $25.22, but opened at $26.00. Galapagos shares last traded at $26.24, with a volume of 61,015 shares trading hands.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Raymond James cut shares of Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday. Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Royal Bank of Canada decreased their price objective on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Finally, Leerink Partners initiated coverage on Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.75.
Read Our Latest Stock Analysis on GLPG
Galapagos Stock Performance
Institutional Trading of Galapagos
Several institutional investors have recently modified their holdings of the business. Creative Planning acquired a new position in Galapagos during the 2nd quarter worth about $456,000. Signaturefd LLC raised its position in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after acquiring an additional 2,541 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Galapagos in the third quarter valued at approximately $1,077,000. Headlands Technologies LLC increased its position in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after purchasing an additional 91,366 shares during 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.
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