Galapagos (NASDAQ:GLPG) Receives “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of Galapagos (NASDAQ:GLPG) in a research note issued to investors on Monday morning, Benzinga reports. Morgan Stanley currently has a $38.00 price objective on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Galapagos from a buy rating to a hold rating in a research report on Monday, March 18th. Bank of America reiterated an underperform rating and issued a $31.00 price target (down from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Galapagos has an average rating of Hold and an average price target of $34.50.

Galapagos Price Performance

NASDAQ:GLPG opened at $28.63 on Monday. The business has a fifty day simple moving average of $33.51 and a two-hundred day simple moving average of $36.31. Galapagos has a 1 year low of $28.33 and a 1 year high of $45.21.

Institutional Investors Weigh In On Galapagos

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new stake in Galapagos during the fourth quarter valued at $44,000. Quadrant Capital Group LLC boosted its stake in Galapagos by 18.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 261 shares during the period. Tower Research Capital LLC TRC boosted its stake in Galapagos by 2,317.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,934 shares of the biotechnology company’s stock valued at $79,000 after buying an additional 1,854 shares during the period. Signaturefd LLC boosted its stake in Galapagos by 78.6% during the fourth quarter. Signaturefd LLC now owns 1,970 shares of the biotechnology company’s stock valued at $80,000 after buying an additional 867 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its stake in Galapagos by 357.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock valued at $92,000 after buying an additional 1,770 shares during the period. Institutional investors own 32.46% of the company’s stock.

About Galapagos

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.