Galapagos (NASDAQ:GLPG) Downgraded to “Sell” Rating by Wall Street Zen

Galapagos (NASDAQ:GLPG) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other brokerages have also recently commented on GLPG. Sanford C. Bernstein assumed coverage on shares of Galapagos in a research note on Wednesday, November 26th. They set a “hold” rating for the company. Leerink Partners set a $40.00 target price on shares of Galapagos and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Leerink Partnrs raised Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their target price on Galapagos from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $31.33.

Galapagos Stock Down 0.6%

Shares of GLPG opened at $31.59 on Friday. The company has a 50 day moving average price of $32.39 and a 200-day moving average price of $31.32. Galapagos has a fifty-two week low of $22.36 and a fifty-two week high of $37.78.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GLPG. State of Wyoming acquired a new stake in Galapagos in the 2nd quarter valued at approximately $28,000. GAMMA Investing LLC boosted its position in shares of Galapagos by 79.4% during the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock worth $51,000 after buying an additional 652 shares during the period. Quadrant Capital Group LLC purchased a new position in shares of Galapagos during the third quarter worth $134,000. Squarepoint Ops LLC acquired a new stake in shares of Galapagos in the third quarter valued at $211,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Galapagos in the third quarter valued at $212,000. Institutional investors and hedge funds 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.