Galapagos NV (GLPG) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Galapagos NV (NASDAQ:GLPG) from a hold rating to a buy rating in a research note released on Monday morning. Zacks Investment Research currently has $74.00 price target on the stock.
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. “
Other equities analysts have also issued research reports about the stock. Janney Montgomery Scott started coverage on shares of Galapagos NV in a research report on Tuesday, August 30th. They issued a buy rating and a $64.00 price target on the stock. Credit Suisse Group AG reissued a hold rating and issued a $48.00 price target on shares of Galapagos NV in a research report on Friday, June 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of €67.80 ($75.33).
Galapagos NV (NASDAQ:GLPG) traded down 1.42% on Monday, hitting $64.71. 45,975 shares of the stock were exchanged. The company’s 50 day moving average is $60.30 and its 200 day moving average is $53.51. Galapagos NV has a 1-year low of $37.03 and a 1-year high of $73.37. The stock’s market cap is $2.98 billion.
A number of large investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. raised its stake in shares of Galapagos NV by 114.7% in the first quarter. Landscape Capital Management L.L.C. now owns 17,389 shares of the company’s stock valued at $727,000 after buying an additional 9,288 shares during the period. Wellington Management Group LLP increased its stake in shares of Galapagos NV by 28.5% in the first quarter. Wellington Management Group LLP now owns 800,199 shares of the company’s stock valued at $33,465,000 after buying an additional 177,656 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Galapagos NV during the first quarter valued at approximately $547,000. Deerfield Management Co. increased its stake in shares of Galapagos NV by 79.0% in the first quarter. Deerfield Management Co. now owns 327,626 shares of the company’s stock valued at $13,701,000 after buying an additional 144,626 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in shares of Galapagos NV by 47.6% in the second quarter. Alps Advisors Inc. now owns 64,775 shares of the company’s stock valued at $3,593,000 after buying an additional 20,901 shares in the last quarter. 21.21% of the stock is currently owned by hedge funds and other institutional investors.
About Galapagos NV
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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