Galapagos (NASDAQ:GLPG) Receives “Underweight” Rating from Barclays

Galapagos (NASDAQ:GLPG)‘s stock had its “underweight” rating reissued by Barclays in a report issued on Thursday,Benzinga reports.

Several other research firms have also recently commented on GLPG. Royal Bank of Canada decreased their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, TD Cowen lowered Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, Galapagos presently has a consensus rating of “Hold” and an average target price of $30.75.

Galapagos Trading Down 0.2 %

Shares of NASDAQ GLPG opened at $23.70 on Thursday. Galapagos has a 12-month low of $23.45 and a 12-month high of $40.34. The firm’s 50-day simple moving average is $26.55 and its 200 day simple moving average is $27.41.

Institutional Investors Weigh In On Galapagos

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings 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 last quarter. Renaissance Technologies LLC grew its holdings in Galapagos by 1.6% during the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock valued at $6,710,000 after purchasing an additional 4,300 shares during the period. XTX Topco Ltd bought a new stake in Galapagos in the second quarter valued at approximately $284,000. Marshall Wace LLP acquired a new stake in Galapagos in the second quarter worth $315,000. Finally, DME Capital Management LP boosted its position in shares of Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after purchasing an additional 75,000 shares in the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

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.