Galapagos (NASDAQ:GLPG) Stock Passes Above 200-Day Moving Average – Here’s Why

Galapagos NV (NASDAQ:GLPG) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.53 and traded as high as $34.28. Galapagos shares last traded at $33.88, with a volume of 95,515 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen raised Galapagos from a “sell” rating to a “hold” rating in a report on Tuesday, December 30th. Leerink Partners raised shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Sanford C. Bernstein began coverage on shares of Galapagos in a report on Wednesday, November 26th. They set a “hold” rating on the stock. Royal Bank Of Canada raised their price target on shares of Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Galapagos in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $31.33.

Galapagos Trading Down 0.7%

The firm has a 50-day moving average price of $32.65 and a 200 day moving average price of $32.53.

Hedge Funds Weigh In On Galapagos

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of Galapagos by 2.1% during the third quarter. Bank of America Corp DE now owns 30,949 shares of the biotechnology company’s stock valued at $1,072,000 after purchasing an additional 643 shares in the last quarter. GAMMA Investing LLC lifted its position in Galapagos by 79.4% during the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 652 shares during the period. Two Sigma Investments LP boosted its holdings in shares of Galapagos by 3.7% during the 3rd quarter. Two Sigma Investments LP now owns 22,459 shares of the biotechnology company’s stock valued at $778,000 after buying an additional 800 shares in the last quarter. State of Wyoming purchased a new stake in shares of Galapagos in the 2nd quarter worth about $28,000. Finally, Quadrant Capital Group LLC bought a new position in shares of Galapagos in the 3rd quarter worth about $134,000. Institutional investors own 32.46% of the company’s stock.

Galapagos Company Profile

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.