Galapagos NV (NASDAQ:GLPG) Receives Average Rating of “Hold” from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

Several brokerages have issued reports on GLPG. Royal Bank Of Canada increased their target price on shares of Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. Raymond James Financial reaffirmed a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. UBS Group reiterated a “market perform” rating on shares of Galapagos in a research note on Tuesday, February 24th. Wall Street Zen raised shares of Galapagos from a “sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Weiss Ratings raised shares of Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, February 26th.

Institutional Investors Weigh In On Galapagos

A number of hedge funds have recently made changes to their positions in the stock. Madison Avenue Partners LP lifted its stake in shares of Galapagos by 0.8% during the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock worth $72,371,000 after purchasing an additional 17,394 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Galapagos by 2,490.1% in the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after purchasing an additional 1,362,229 shares during the last quarter. EcoR1 Capital LLC raised its holdings in Galapagos by 569.0% in the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock worth $29,024,000 after purchasing an additional 881,939 shares in the last quarter. UBS Group AG lifted its position in shares of Galapagos by 128.4% during the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock valued at $11,427,000 after buying an additional 196,445 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Galapagos by 121.9% during the fourth quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock valued at $11,097,000 after buying an additional 186,452 shares during the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Galapagos Stock Performance

Shares of Galapagos stock opened at $31.71 on Friday. The stock’s fifty day moving average price is $33.63 and its 200-day moving average price is $32.83. Galapagos has a 12 month low of $22.59 and a 12 month high of $37.78.

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.