Galapagos (NASDAQ:GLPG) Rating Lowered to “Sell” at Wall Street Zen

Galapagos (NASDAQ:GLPG) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

Several other research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. Leerink Partnrs raised Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Royal Bank Of Canada upped their price objective on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a research report on Friday, November 7th. Sanford C. Bernstein assumed coverage on Galapagos in a research note on Wednesday, November 26th. They set a “hold” rating on the stock. Finally, Leerink Partners set a $40.00 price objective on Galapagos and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $31.33.

Galapagos Stock Performance

Shares of GLPG opened at $32.94 on Monday. Galapagos has a 12-month low of $22.36 and a 12-month high of $37.78. The company has a 50-day moving average of $31.68 and a two-hundred day moving average of $31.62.

Hedge Funds Weigh In On Galapagos

Several institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new stake in Galapagos in the 2nd quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in shares of Galapagos by 79.4% during 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 during the period. Quadrant Capital Group LLC acquired a new stake in shares of Galapagos in the third quarter worth approximately $134,000. Squarepoint Ops LLC purchased a new stake in Galapagos in the third quarter valued at approximately $211,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Galapagos in the third quarter valued at approximately $212,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

About Galapagos

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.