Brokerages Set Galapagos NV (NASDAQ:GLPG) Target Price at $26.75

Galapagos NV (NASDAQ:GLPG) has received a consensus recommendation of “Strong Sell” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $26.75.

A number of brokerages have commented on GLPG. Morgan Stanley cut shares of Galapagos from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Barclays reiterated an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. Finally, Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th.

Institutional Investors Weigh In On Galapagos

A number of hedge funds and other institutional investors have recently bought and sold shares of GLPG. Creative Planning increased its stake in shares of Galapagos by 18.8% in the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock valued at $630,000 after buying an additional 3,463 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Galapagos during the 3rd quarter worth about $247,000. Crossmark Global Holdings Inc. acquired a new stake in Galapagos in the 3rd quarter valued at about $1,077,000. Finepoint Capital LP increased its position in Galapagos by 2.8% in the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Galapagos in the third quarter worth about $410,000. 32.46% of the stock is owned by institutional investors and hedge funds.

Galapagos Stock Up 1.9 %

NASDAQ:GLPG opened at $26.55 on Tuesday. The company has a 50-day moving average of $25.30 and a 200-day moving average of $27.15. Galapagos has a 52 week low of $22.36 and a 52 week high of $35.06.

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.