Morgan Stanley reaffirmed their equal weight rating on shares of Galapagos (NASDAQ:GLPG – Free Report) 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.
Check Out Our Latest Stock Analysis on GLPG
Galapagos Price Performance
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.
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