Galapagos (GLPG) Upgraded by BidaskClub to Hold
BidaskClub upgraded shares of Galapagos (NASDAQ:GLPG) from a sell rating to a hold rating in a research note released on Tuesday morning.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of Galapagos from a hold rating to a sell rating in a research note on Wednesday, December 27th. Stifel Nicolaus reiterated a buy rating and issued a $120.00 price target on shares of Galapagos in a research note on Sunday, October 29th. BTIG Research reiterated a buy rating and issued a $118.00 price target on shares of Galapagos in a research note on Monday, November 20th. Morgan Stanley reiterated an overweight rating and issued a $123.00 price target (up from $92.00) on shares of Galapagos in a research note on Friday, October 6th. Finally, ValuEngine lowered shares of Galapagos from a hold rating to a sell rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $111.00.
Shares of Galapagos (GLPG) traded up $2.94 during mid-day trading on Tuesday, hitting $112.44. 98,101 shares of the stock were exchanged, compared to its average volume of 61,241. Galapagos has a 52-week low of $63.69 and a 52-week high of $113.04. The company has a market capitalization of $5,577.58, a price-to-earnings ratio of -122.22 and a beta of 1.58.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in Galapagos during the third quarter valued at approximately $105,000. Envestnet Asset Management Inc. grew its position in Galapagos 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 buying an additional 1,063 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Galapagos during the third quarter valued at approximately $218,000. New York State Common Retirement Fund bought a new stake in Galapagos during the second quarter valued at approximately $166,000. Finally, Comerica Bank bought a new stake in Galapagos during the second quarter valued at approximately $221,000. Institutional investors own 19.68% of the company’s stock.
Galapagos 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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