Galapagos (NASDAQ:GLPG) Stock Rating Lowered by Raymond James

Galapagos (NASDAQ:GLPGGet Rating) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Monday, Marketbeat reports.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their price target on shares of Galapagos from $61.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, October 13th. Jefferies Financial Group downgraded shares of Galapagos from a “hold” rating to an “underperform” rating in a research report on Monday, July 25th. Barclays dropped their price target on shares of Galapagos from €60.00 ($60.00) to €50.00 ($50.00) and set an “equal weight” rating on the stock in a research report on Friday, October 14th. Royal Bank of Canada cut their price target on Galapagos from $62.00 to $55.00 in a research note on Monday, August 8th. Finally, StockNews.com started coverage on Galapagos in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.00.

Galapagos Price Performance

Shares of Galapagos stock opened at $41.13 on Monday. Galapagos has a 52 week low of $40.12 and a 52 week high of $72.11. The stock has a 50 day moving average price of $45.37 and a two-hundred day moving average price of $51.82.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Galapagos during the first quarter valued at $34,000. Calamos Advisors LLC purchased a new position in shares of Galapagos in the first quarter worth about $655,000. JPMorgan Chase & Co. raised its position in shares of Galapagos by 2.5% in the first quarter. JPMorgan Chase & Co. now owns 299,710 shares of the biotechnology company’s stock valued at $18,588,000 after purchasing an additional 7,223 shares during the period. American Century Companies Inc. purchased a new stake in shares of Galapagos during the 1st quarter valued at approximately $416,000. Finally, US Bancorp DE boosted its holdings in Galapagos by 83.6% in the 1st quarter. US Bancorp DE now owns 2,596 shares of the biotechnology company’s stock worth $161,000 after buying an additional 1,182 shares during the period. Hedge funds and other institutional investors own 19.48% of the company’s stock.

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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Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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