Brokerages Set Galapagos NV (NASDAQ:GLPG) Target Price at $31.00

Shares of Galapagos NV (NASDAQ:GLPG) have received an average rating of “Reduce” from the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.75.

GLPG has been the topic of a number of recent analyst reports. Raymond James lowered Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. 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 report on Friday. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Finally, Leerink Partners initiated coverage on Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target for the company.

Galapagos Stock Up 1.7 %

GLPG opened at $26.89 on Wednesday. The stock’s 50 day moving average price is $29.22 and its 200-day moving average price is $27.75. Galapagos has a one year low of $24.16 and a one year high of $42.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Headlands Technologies LLC boosted its stake in Galapagos by 56.7% in the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 446 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 736 shares in the last quarter. Rhumbline Advisers boosted its stake in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 814 shares in the last quarter. Signaturefd LLC grew its position in Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 1,258 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. Hedge funds and other 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.