Galapagos NV (GLPG) Rating Lowered to Hold at Zacks Investment Research
Galapagos NV (NASDAQ:GLPG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
Several other equities research analysts have also recently weighed in on the company. Janney Montgomery Scott assumed coverage on Galapagos NV in a research report on Tuesday, August 30th. They issued a “buy” rating and a $64.00 price objective for the company. Credit Suisse Group AG reissued a “hold” rating and issued a $48.00 price objective on shares of Galapagos NV in a research report on Friday, June 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of €65.20 ($72.44).
Galapagos NV (NASDAQ:GLPG) traded up 0.53% during midday trading on Monday, reaching $65.00. 71,362 shares of the company traded hands. The company has a 50-day moving average price of $58.65 and a 200-day moving average price of $52.67. The company’s market cap is $3.00 billion. Galapagos NV has a 12-month low of $37.03 and a 12-month high of $73.37.
Hedge funds and other institutional investors have recently modified their holdings of the company. Williams Jones & Associates LLC purchased a new position in shares of Galapagos NV during the second quarter valued at approximately $2,428,000. Fiera Capital Corp bought a new position in Galapagos NV during the second quarter valued at about $302,000. Deerfield Management Co. raised its position in Galapagos NV by 39.8% in the second quarter. Deerfield Management Co. now owns 458,112 shares of the company’s stock valued at $25,411,000 after buying an additional 130,486 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in Galapagos NV by 56.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 235,000 shares of the company’s stock valued at $13,035,000 after buying an additional 85,000 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Galapagos NV during the second quarter valued at about $347,000.
Galapagos NV Company Profile
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
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