Galapagos NV (NASDAQ:GLPG) Receives $25.33 Consensus PT from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have received an average recommendation of “Reduce” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.33.

A number of brokerages have recently issued reports on GLPG. Barclays reaffirmed an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Morgan Stanley lowered Galapagos from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $31.00 to $22.00 in a research report on Friday, February 14th. Finally, StockNews.com cut shares of Galapagos from a “hold” rating to a “sell” rating in a report on Friday, April 25th.

Galapagos Stock Performance

Shares of GLPG opened at $28.90 on Friday. The stock’s 50-day moving average is $25.54 and its two-hundred day moving average is $25.89. Galapagos has a 12 month low of $22.36 and a 12 month high of $31.23.

Galapagos (NASDAQ:GLPG) last issued its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($2.24). The business had revenue of $97.33 million during the quarter, compared to the consensus estimate of $72.22 million. As a group, equities analysts forecast that Galapagos will post -1.6 EPS for the current year.

Institutional Trading of Galapagos

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gilead Sciences Inc. bought a new stake in Galapagos in the fourth quarter valued at about $461,727,000. Tang Capital Management LLC grew its holdings in shares of Galapagos by 208.7% during the fourth quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock valued at $59,433,000 after purchasing an additional 1,461,200 shares during the last quarter. Deep Track Capital LP bought a new position in shares of Galapagos during the fourth quarter valued at approximately $21,471,000. Finepoint Capital LP grew its holdings in shares of Galapagos by 21.0% during the fourth quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company’s stock valued at $18,556,000 after purchasing an additional 117,000 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its holdings in shares of Galapagos by 8.7% during the fourth quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company’s stock valued at $15,243,000 after purchasing an additional 44,300 shares during the last quarter. 32.46% of the stock is owned by institutional investors.

About Galapagos

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.