Galapagos (NASDAQ:GLPG) Lowered to Sell Rating by Wall Street Zen

Galapagos (NASDAQ:GLPG) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other analysts have also weighed in on GLPG. Royal Bank Of Canada upped their target price on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft reissued a “sell” rating on shares of Galapagos in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Galapagos in a research note on Wednesday, October 8th. Leerink Partners set a $40.00 price objective on shares of Galapagos and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Leerink Partnrs raised shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $31.33.

Galapagos Price Performance

GLPG opened at $31.29 on Friday. Galapagos has a 1-year low of $22.36 and a 1-year high of $37.78. The stock has a market cap of $2.06 billion, a P/E ratio of -19.93 and a beta of 0.23. The stock’s 50 day simple moving average is $32.93 and its 200 day simple moving average is $30.85.

Institutional Investors Weigh In On Galapagos

Several institutional investors and hedge funds have recently modified their holdings of GLPG. EcoR1 Capital LLC raised its holdings in shares of Galapagos by 569.0% during the 2nd quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after buying an additional 881,939 shares during the period. Norges Bank acquired a new stake in Galapagos in the second quarter valued at approximately $3,359,000. Jane Street Group LLC raised its stake in shares of Galapagos by 2,245.7% during the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after purchasing an additional 115,946 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Galapagos by 5,613.7% during the second quarter. Tower Research Capital LLC TRC now owns 79,135 shares of the biotechnology company’s stock valued at $2,215,000 after purchasing an additional 77,750 shares during the period. Finally, OLD Mission Capital LLC acquired a new position in shares of Galapagos during the first quarter worth $1,885,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Galapagos Company Profile

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.