Galapagos (NASDAQ:GLPG) Reaches New 12-Month Low at $46.32

Galapagos NV (NASDAQ:GLPGGet Rating) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $46.32 and last traded at $46.58, with a volume of 540 shares traded. The stock had previously closed at $47.27.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Jefferies Financial Group cut shares of Galapagos from a “hold” rating to an “underperform” rating in a research report on Monday, July 25th. Morgan Stanley cut shares of Galapagos from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $80.00 to $61.00 in a research report on Friday, September 9th. Finally, Royal Bank of Canada reduced their price target on shares of Galapagos from $62.00 to $55.00 in a research report on Monday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.75.

Galapagos Stock Down 1.9 %

The company’s 50 day simple moving average is $51.43 and its 200 day simple moving average is $56.67.

Galapagos (NASDAQ:GLPGGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.79) by $0.48. The company had revenue of $146.62 million for the quarter, compared to analyst estimates of $95.44 million. Galapagos had a negative net margin of 16.90% and a negative return on equity of 3.02%. As a group, equities research analysts anticipate that Galapagos NV will post -3.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Galapagos

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Galapagos by 64.7% during the second quarter. FMR LLC now owns 3,568,650 shares of the biotechnology company’s stock worth $199,131,000 after acquiring an additional 1,401,691 shares during the last quarter. 683 Capital Management LLC grew its position in shares of Galapagos by 29.0% during the fourth quarter. 683 Capital Management LLC now owns 905,121 shares of the biotechnology company’s stock worth $49,900,000 after acquiring an additional 203,700 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Galapagos by 547.9% during the fourth quarter. Point72 Asset Management L.P. now owns 763,900 shares of the biotechnology company’s stock worth $42,114,000 after acquiring an additional 646,000 shares during the last quarter. BlackRock Inc. grew its position in shares of Galapagos by 46.8% during the first quarter. BlackRock Inc. now owns 517,611 shares of the biotechnology company’s stock worth $32,103,000 after acquiring an additional 164,912 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its position in shares of Galapagos by 6.9% during the second quarter. Driehaus Capital Management LLC now owns 510,649 shares of the biotechnology company’s stock worth $28,494,000 after acquiring an additional 33,034 shares during the last quarter. 19.48% 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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