Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low at $29.45

Galapagos NV (NASDAQ:GLPG) reached a new 52-week low on Tuesday . The company traded as low as $29.45 and last traded at $29.49, with a volume of 16106 shares changing hands. The stock had previously closed at $29.80.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GLPG. Bank of America reissued an “underperform” rating and issued a $31.00 target price (down previously from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. StockNews.com lowered Galapagos from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. Finally, Morgan Stanley began coverage on Galapagos in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $38.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Galapagos has an average rating of “Hold” and an average price target of $34.50.

Galapagos Trading Down 0.9 %

The business has a fifty day simple moving average of $34.54 and a two-hundred day simple moving average of $36.50. The stock has a market cap of $1.93 billion, a PE ratio of -12.76 and a beta of 0.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in shares of Galapagos by 96.4% during the 4th quarter. BNP Paribas Financial Markets now owns 603 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 296 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Galapagos in the 1st quarter worth approximately $25,000. US Bancorp DE grew its stake in shares of Galapagos by 157.4% in the 4th quarter. US Bancorp DE now owns 821 shares of the biotechnology company’s stock worth $33,000 after buying an additional 502 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Galapagos in the 4th quarter worth approximately $44,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Galapagos by 147.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company’s stock worth $49,000 after buying an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

About Galapagos

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, ankylosing spondylitis, psoriatic arthritis, and uveitis.