Galapagos (NASDAQ:GLPG) Shares Gap Up – Should You Buy?

Galapagos NV (NASDAQ:GLPG) shares gapped up before the market opened on Friday . The stock had previously closed at $25.22, but opened at $26.00. Galapagos shares last traded at $26.24, with a volume of 61,015 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GLPG shares. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Leerink Partners initiated coverage on shares of Galapagos in a research report on Monday, September 9th. They set a “market perform” rating and a $24.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Stock Up 7.6 %

The firm’s fifty day moving average is $28.62 and its two-hundred day moving average is $27.51.

Hedge Funds Weigh In On Galapagos

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC raised its position in shares of Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 446 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares during the period. Signaturefd LLC grew its stake in shares of Galapagos by 48.1% during the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 1,258 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 1,510 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of Galapagos by 21.6% during the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares during the period. 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.