Galapagos (NASDAQ:GLPG) Rating Increased to Buy at Wall Street Zen

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

A number of other research firms also recently commented on GLPG. Raymond James Financial restated a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Royal Bank Of Canada upped their target price on Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 24th. Weiss Ratings upgraded Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Finally, UBS Group reissued a “market perform” rating on shares of Galapagos in a research note on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Galapagos currently has an average rating of “Hold” and an average price target of $36.50.

Galapagos Stock Performance

NASDAQ:GLPG opened at $28.93 on Friday. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -18.43 and a beta of 0.26. Galapagos has a 1 year low of $22.59 and a 1 year high of $37.78. The business has a fifty day moving average of $33.26 and a 200-day moving average of $32.78.

Institutional Investors Weigh In On Galapagos

Several hedge funds have recently modified their holdings of GLPG. Ameriprise Financial Inc. boosted its position in shares of Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after purchasing an additional 1,362,229 shares during the period. EcoR1 Capital LLC lifted 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 buying an additional 881,939 shares in the last quarter. UBS Group AG lifted its stake in Galapagos by 128.4% during the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock valued at $11,427,000 after buying an additional 196,445 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Galapagos by 121.9% in the fourth quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock worth $11,097,000 after buying an additional 186,452 shares during the period. Finally, Norges Bank acquired a new position in shares of Galapagos in the second quarter worth about $3,359,000. 32.46% of the stock is owned by hedge funds and other 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.