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

Shares of Galapagos NV (NASDAQ:GLPG) have been given a consensus recommendation of “Reduce” by the seven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating on 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 research reports. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Leerink Partners started coverage on shares of Galapagos in a research report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target on the stock. Royal Bank of Canada reduced their target price 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. Finally, Leerink Partnrs upgraded Galapagos to a “hold” rating in a research note on Monday, September 9th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its stake 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 valued at $31,000 after purchasing an additional 446 shares during the period. GAMMA Investing LLC grew its position in Galapagos by 140.7% in 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 during the period. Signaturefd LLC raised its stake in Galapagos by 48.1% during the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Galapagos by 63.2% during the third 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 boosted its stake in shares of Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

Galapagos Stock Performance

Shares of NASDAQ:GLPG opened at $27.21 on Thursday. The business has a 50 day moving average price of $27.63 and a 200 day moving average price of $27.36. Galapagos has a twelve month low of $24.16 and a twelve month high of $42.46.

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.