Galapagos NV (NASDAQ:GLPG) Receives $36.00 Consensus Target Price from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $36.00.

Several analysts recently weighed in on GLPG shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a report on Thursday, January 22nd. Sanford C. Bernstein assumed coverage on shares of Galapagos in a research note on Wednesday, November 26th. They issued a “hold” rating for the company. Royal Bank Of Canada upped 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. Finally, Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a research report on Tuesday, December 30th.

Hedge Funds Weigh In On Galapagos

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in shares of Galapagos during the second quarter worth about $1,114,000. EcoR1 Capital LLC boosted its holdings in Galapagos by 569.0% in the 2nd 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 in the last quarter. Matauro LLC acquired a new position in Galapagos during the 3rd quarter worth approximately $1,647,000. Norges Bank purchased a new stake in shares of Galapagos in the second quarter valued at approximately $3,359,000. Finally, Van ECK Associates Corp grew its holdings in Galapagos by 61.6% during 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. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Galapagos Trading Down 1.2%

Shares of Galapagos stock opened at $34.18 on Tuesday. The business’s 50 day moving average price is $33.34 and its 200 day moving average price is $32.72. Galapagos has a one year low of $22.59 and a one year high of $37.78.

About Galapagos

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.