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

Galapagos NV (NASDAQ:GLPG) has been given an average rating of “Reduce” by the eight ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $30.75.

Several research analysts recently issued reports on the company. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Royal Bank of Canada cut their price objective on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in Galapagos by 77.4% in the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 974 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Galapagos during the 3rd quarter valued at $410,000. Finepoint Capital LP grew its stake in shares of Galapagos by 2.8% during the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after buying an additional 15,000 shares during the period. Crossmark Global Holdings Inc. purchased a new stake in shares of Galapagos during the 3rd quarter valued at $1,077,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Galapagos during the 3rd quarter valued at $247,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Galapagos Trading Down 0.9 %

GLPG stock opened at $23.77 on Monday. The firm has a 50 day moving average of $27.06 and a 200-day moving average of $27.49. Galapagos has a 12-month low of $23.57 and a 12-month high of $40.34.

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.