Galapagos (NASDAQ:GLPG) Stock Rating Lowered by Wall Street Zen

Galapagos (NASDAQ:GLPG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, November 7th. Leerink Partnrs upgraded shares of Galapagos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Leerink Partners set a $40.00 target price on Galapagos and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein started coverage on Galapagos in a research report on Wednesday, November 26th. They set a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $31.33.

Galapagos Stock Down 0.6%

Shares of GLPG stock opened at $31.59 on Friday. The stock has a fifty day moving average of $32.39 and a 200 day moving average of $31.35. Galapagos has a 52 week low of $22.36 and a 52 week high of $37.78.

Institutional Trading of Galapagos

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tejara Capital Ltd purchased a new position in Galapagos during the first quarter valued at $1,351,000. American Century Companies Inc. increased its holdings in shares of Galapagos by 7.7% during the first quarter. American Century Companies Inc. now owns 27,839 shares of the biotechnology company’s stock valued at $699,000 after acquiring an additional 1,987 shares in the last quarter. OLD Mission Capital LLC purchased a new position in shares of Galapagos in the 1st quarter worth about $1,885,000. Vestal Point Capital LP boosted its stake in Galapagos by 11.1% in the 1st quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company’s stock worth $5,024,000 after purchasing an additional 20,000 shares in the last quarter. Finally, 683 Capital Management LLC grew its position in Galapagos by 57.3% during the 1st quarter. 683 Capital Management LLC now owns 110,100 shares of the biotechnology company’s stock valued at $2,766,000 after purchasing an additional 40,100 shares during the last quarter. Hedge funds and other 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.