Galapagos (NASDAQ:GLPG) Stock Rating Upgraded by Wall Street Zen

Galapagos (NASDAQ:GLPG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

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

Galapagos Stock Performance

Shares of NASDAQ:GLPG opened at $28.93 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of -18.43 and a beta of 0.26. The business has a 50-day simple moving average of $33.26 and a two-hundred day simple moving average of $32.79. Galapagos has a fifty-two week low of $22.59 and a fifty-two week high of $37.78.

Hedge Funds Weigh In On Galapagos

Several institutional investors have recently made changes to their positions in GLPG. Bank of America Corp DE boosted its holdings in shares of Galapagos by 2.1% in the third quarter. Bank of America Corp DE now owns 30,949 shares of the biotechnology company’s stock worth $1,072,000 after buying an additional 643 shares during the last quarter. GAMMA Investing LLC increased its holdings 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 last quarter. Van ECK Associates Corp raised its position in Galapagos by 61.6% in the fourth quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 750 shares during the period. Two Sigma Investments LP raised its position in Galapagos by 3.7% in the third quarter. Two Sigma Investments LP now owns 22,459 shares of the biotechnology company’s stock worth $778,000 after acquiring an additional 800 shares during the period. Finally, State of Wyoming purchased a new position in shares of Galapagos during the 2nd quarter worth $28,000. 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.