Galapagos NV (GLPG) Receives “Buy” Rating from BTIG Research
Galapagos NV (NASDAQ:GLPG)‘s stock had its “buy” rating reiterated by equities researchers at BTIG Research in a report released on Monday. They presently have a $118.00 price target on the biotechnology company’s stock. BTIG Research’s target price would indicate a potential upside of 26.90% from the company’s previous close.
Several other research firms have also issued reports on GLPG. Zacks Investment Research raised shares of Galapagos NV from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. Stifel Nicolaus boosted their price target on shares of Galapagos NV from $101.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, September 15th. Royal Bank Of Canada began coverage on shares of Galapagos NV in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $98.00 price target on the stock. Morgan Stanley reissued an “overweight” rating and issued a $123.00 price target (up previously from $92.00) on shares of Galapagos NV in a research report on Friday, October 6th. Finally, BidaskClub raised shares of Galapagos NV from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $111.00.
Galapagos NV (GLPG) traded down $0.40 during midday trading on Monday, hitting $92.99. 38,906 shares of the stock traded hands, compared to its average volume of 153,645. Galapagos NV has a one year low of $57.16 and a one year high of $104.12.
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Large investors have recently modified their holdings of the stock. Advisors Preferred LLC purchased a new position in Galapagos NV during the third quarter valued at approximately $105,000. Acadian Asset Management LLC purchased a new position in Galapagos NV during the second quarter valued at approximately $166,000. New York State Common Retirement Fund purchased a new position in Galapagos NV during the second quarter valued at approximately $166,000. Pacad Investment Ltd. purchased a new position in Galapagos NV during the second quarter valued at approximately $168,000. Finally, Envestnet Asset Management Inc. grew its stake in Galapagos NV by 156.6% during the third quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 1,063 shares in the last quarter. 21.42% of the stock is owned by 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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