Analysts Set Galapagos NV (NASDAQ:GLPG) PT at $30.75

Galapagos NV (NASDAQ:GLPG) has earned a consensus recommendation of “Reduce” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $30.75.

GLPG has been the subject of several recent research reports. Royal Bank of Canada lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Leerink Partnrs raised Galapagos to a “hold” rating in a research note on Monday, September 9th. Finally, Leerink Partners initiated coverage on Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target on the stock.

Galapagos Trading Up 1.5 %

GLPG stock opened at $26.76 on Thursday. The business’s fifty day moving average price is $27.71 and its 200 day moving average price is $27.35. Galapagos has a 12-month low of $24.16 and a 12-month high of $42.46.

Hedge Funds Weigh In On Galapagos

A number of institutional investors have recently modified their holdings of the business. Stonepine Capital Management LLC increased its holdings in shares of Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after purchasing an additional 91,366 shares during the period. DME Capital Management LP raised its position in Galapagos by 46.9% in the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after acquiring an additional 75,000 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Galapagos during the third quarter worth about $1,077,000. Creative Planning purchased a new position in Galapagos in the second quarter valued at about $456,000. Finally, Millennium Management LLC grew its holdings in shares of Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after acquiring an additional 17,089 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

Galapagos Company Profile

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.