Galapagos NV (NASDAQ:GLPG) Receives Average Rating of “Reduce” from Brokerages

Galapagos NV (NASDAQ:GLPG) has received an average recommendation of “Reduce” from the six analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $31.3333.

Several research firms have issued reports on GLPG. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a report on Tuesday, December 30th. Sanford C. Bernstein began coverage on shares of Galapagos in a research note on Wednesday, November 26th. They set a “hold” rating on the stock. Finally, Leerink Partners upgraded shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd.

Galapagos Price Performance

Shares of GLPG stock opened at $34.40 on Friday. Galapagos has a 1 year low of $22.36 and a 1 year high of $37.78. The firm has a fifty day moving average price of $32.21 and a 200-day moving average price of $32.34.

Institutional Investors Weigh In On Galapagos

Institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in shares of Galapagos during the second quarter valued at approximately $1,114,000. EcoR1 Capital LLC grew its stake in Galapagos by 569.0% during the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after acquiring an additional 881,939 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in Galapagos during the second quarter valued at $261,000. QRG Capital Management Inc. increased its holdings in Galapagos by 55.7% in the 2nd quarter. QRG Capital Management Inc. now owns 15,096 shares of the biotechnology company’s stock valued at $423,000 after acquiring an additional 5,399 shares during the last quarter. Finally, Norges Bank purchased a new stake in Galapagos in the 2nd quarter worth $3,359,000. 32.46% of the stock is owned by institutional investors.

About Galapagos

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.