Galapagos NV (NASDAQ:GLPG) Given Consensus Rating of “Reduce” by Analysts

Galapagos NV (NASDAQ:GLPG) has been given an average recommendation of “Reduce” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.3333.

A number of research analysts recently issued reports on GLPG shares. Leerink Partners set a $40.00 price target on Galapagos and gave the company an “outperform” rating in a report on Tuesday, October 21st. Royal Bank Of Canada lifted their price objective on Galapagos from $28.00 to $32.00 and gave the stock a “sector perform” rating in a research report on Friday, November 7th. Sanford C. Bernstein started coverage on Galapagos in a report on Wednesday, November 26th. They set a “hold” rating for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Galapagos in a research note on Wednesday, October 8th. Finally, Leerink Partnrs upgraded shares of Galapagos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd.

Galapagos Stock Performance

GLPG stock opened at $32.97 on Monday. The firm’s 50-day moving average price is $31.66 and its two-hundred day moving average price is $31.82. Galapagos has a 12-month low of $22.36 and a 12-month high of $37.78.

Hedge Funds Weigh In On Galapagos

Several hedge funds and other institutional investors have recently modified their holdings of GLPG. Bank of America Corp DE boosted its position in Galapagos by 2.1% during the 3rd quarter. Bank of America Corp DE now owns 30,949 shares of the biotechnology company’s stock valued at $1,072,000 after acquiring an additional 643 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Galapagos by 79.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 652 shares during the period. Two Sigma Investments LP boosted its position in shares of Galapagos by 3.7% during the third quarter. Two Sigma Investments LP now owns 22,459 shares of the biotechnology company’s stock valued at $778,000 after purchasing an additional 800 shares in the last quarter. State of Wyoming bought a new stake in shares of Galapagos during the second quarter valued at approximately $28,000. Finally, American Century Companies Inc. grew its stake in Galapagos by 7.7% in the first quarter. American Century Companies Inc. now owns 27,839 shares of the biotechnology company’s stock worth $699,000 after purchasing an additional 1,987 shares during the period. Hedge funds and other 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.