Galapagos (NASDAQ:GLPG) Price Target Raised to €65.00 at JPMorgan Chase & Co.

Galapagos (NASDAQ:GLPG – Get Rating) had its target price boosted by equities researchers at JPMorgan Chase & Co. from €60.00 ($63.16) to €65.00 ($68.42) in a report issued on Thursday, The Fly reports. The firm currently has a “neutral” rating on the biotechnology company’s stock.

A number of other research firms have also recently commented on GLPG. Zacks Investment Research upgraded Galapagos from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday. Morgan Stanley raised their price objective on Galapagos from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, February 28th. Bryan, Garnier & Co raised Galapagos from a “sell” rating to a “buy” rating in a research report on Friday, January 28th. Citigroup raised Galapagos from a “neutral” rating to a “buy” rating in a research report on Thursday, January 27th. Finally, StockNews.com initiated coverage on Galapagos in a research report on Thursday, March 31st. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.54.

NASDAQ GLPG opened at $59.23 on Thursday. Galapagos has a fifty-two week low of $46.41 and a fifty-two week high of $81.12. The company has a current ratio of 8.44, a quick ratio of 8.55 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $62.76 and a two-hundred day simple moving average of $58.67.

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Galapagos in the first quarter worth about $25,000. Signaturefd LLC increased its holdings in shares of Galapagos by 109.5% in the fourth quarter. Signaturefd LLC now owns 505 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Galapagos in the first quarter worth about $34,000. Advisor Group Holdings Inc. increased its holdings in shares of Galapagos by 61.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,226 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 467 shares during the last quarter. Finally, US Bancorp DE increased its stake in Galapagos by 83.6% during the first quarter. US Bancorp DE now owns 2,596 shares of the biotechnology company’s stock worth $161,000 after acquiring an additional 1,182 shares during the last quarter. 18.25% of the stock is currently owned by hedge funds and other institutional investors.

About Galapagos (Get Rating)

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis.

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