Galapagos (NASDAQ:GLPG) Shares Gap Down to $32.95

Galapagos NV (NASDAQ:GLPG) gapped down before the market opened on Thursday . The stock had previously closed at $32.95, but opened at $32.18. Galapagos shares last traded at $32.03, with a volume of 49,678 shares traded.

Analysts Set New Price Targets

GLPG has been the subject of several analyst reports. Morgan Stanley initiated coverage on shares of Galapagos in a report on Thursday, March 7th. They issued an “equal weight” rating and a $38.00 target price for the company. StockNews.com lowered Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Finally, Bank of America restated an “underperform” rating and issued a $31.00 target price (down previously from $41.00) on shares of Galapagos in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Galapagos presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Galapagos Trading Down 3.0 %

The firm’s fifty day simple moving average is $36.57 and its two-hundred day simple moving average is $36.94. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -14.39 and a beta of 0.26.

Hedge Funds Weigh In On Galapagos

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets boosted its position in Galapagos by 96.4% in the 4th quarter. BNP Paribas Financial Markets now owns 603 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 296 shares during the period. Acadian Asset Management LLC purchased a new position in Galapagos during the 1st quarter worth approximately $25,000. US Bancorp DE grew its position in Galapagos by 157.4% during the 4th quarter. US Bancorp DE now owns 821 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 502 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Galapagos during the fourth quarter worth approximately $44,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Galapagos by 147.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 676 shares during the period. Institutional investors and hedge funds own 32.46% of the company’s stock.

Galapagos Company Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.