Galapagos (NASDAQ:GLPG) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Galapagos (NASDAQ:GLPG) from a hold rating to a sell rating in a report released on Saturday.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Galapagos in a research report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Leerink Partnrs raised shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Leerink Partners set a $40.00 price target on shares of Galapagos and gave the company an “outperform” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Galapagos currently has an average rating of “Reduce” and a consensus target price of $31.33.

Galapagos Stock Performance

NASDAQ:GLPG traded down $0.20 during trading hours on Friday, reaching $31.29. The stock had a trading volume of 173,924 shares, compared to its average volume of 295,454. The stock has a market cap of $2.06 billion, a P/E ratio of -19.93 and a beta of 0.23. The stock has a 50 day simple moving average of $32.93 and a 200 day simple moving average of $30.88. Galapagos has a 12-month low of $22.36 and a 12-month high of $37.78.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLPG. State of Wyoming purchased a new position in shares of Galapagos during the second quarter valued at about $28,000. GAMMA Investing LLC raised its position in shares of Galapagos by 79.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock worth $51,000 after acquiring an additional 652 shares in the last quarter. Wealthquest Corp purchased a new position in shares of Galapagos in the 1st quarter valued at approximately $74,000. Quadrant Capital Group LLC purchased a new stake in Galapagos in the third quarter worth $134,000. Finally, Squarepoint Ops LLC purchased a new position in Galapagos during the third quarter valued at $211,000. 32.46% of the stock is currently owned by institutional investors.

Galapagos Company Profile

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.