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

Galapagos NV (NASDAQ:GLPG) passed 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 traded.

Wall Street Analyst Weigh In

GLPG has been the subject of a number of recent analyst reports. Royal Bank Of Canada upped their target price on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Wall Street Zen upgraded shares of Galapagos from a “sell” rating to a “hold” rating in a report on Tuesday, December 30th. Sanford C. Bernstein assumed coverage on shares of Galapagos in a research report on Wednesday, November 26th. They issued a “hold” rating for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a research report on Thursday, January 22nd. Finally, Leerink Partners upgraded shares of Galapagos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $31.33.

Galapagos Stock Down 0.7%

The firm’s 50 day moving average price is $32.65 and its 200-day moving average price is $32.55.

Hedge Funds Weigh In On Galapagos

Several hedge funds and other institutional investors have recently modified their holdings of GLPG. Ameriprise Financial Inc. lifted its stake 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 worth $49,083,000 after purchasing an additional 1,362,229 shares during the period. EcoR1 Capital LLC grew its holdings 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 purchasing an additional 881,939 shares during the period. UBS Group AG increased its position in Galapagos by 128.4% in the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock worth $11,427,000 after buying an additional 196,445 shares in the last quarter. Norges Bank bought a new position in shares of Galapagos in the second quarter worth about $3,359,000. Finally, Jane Street Group LLC grew its stake in shares of Galapagos by 2,245.7% during the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after acquiring an additional 115,946 shares during the period. 32.46% of the stock is owned by institutional investors.

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.