Zacks Investment Research upgraded shares of Galapagos NV (NASDAQ:GLPG) from a sell rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
A number of other brokerages have also recently issued reports on GLPG. Morgan Stanley reiterated an overweight rating and set a $123.00 target price (up previously from $92.00) on shares of Galapagos NV in a report on Friday, October 6th. Nomura reduced their price target on Galapagos NV from $108.00 to $121.00 and set a buy rating on the stock in a research report on Thursday, June 22nd. BidaskClub lowered Galapagos NV from a hold rating to a sell rating in a research report on Saturday, August 5th. Instinet reissued a buy rating and set a $108.00 price target (down from $121.00) on shares of Galapagos NV in a research report on Thursday, June 22nd. Finally, Cowen and Company reissued a buy rating on shares of Galapagos NV in a research report on Thursday, August 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $108.14.
Shares of Galapagos NV (NASDAQ GLPG) traded down 0.25% during mid-day trading on Wednesday, hitting $103.56. 14,751 shares of the stock traded hands. The stock has a 50 day moving average price of $101.54 and a 200-day moving average price of $101.54. Galapagos NV has a one year low of $57.16 and a one year high of $104.12. The company’s market cap is $5.27 billion.
Several institutional investors and hedge funds have recently made changes to their positions in GLPG. Tower Research Capital LLC TRC acquired a new position in shares of Galapagos NV in the 1st quarter valued at approximately $161,000. Acadian Asset Management LLC acquired a new position in shares of Galapagos NV in the 2nd quarter valued at approximately $166,000. New York State Common Retirement Fund acquired a new position in shares of Galapagos NV in the 2nd quarter valued at approximately $166,000. Pacad Investment Ltd. acquired a new position in shares of Galapagos NV in the 2nd quarter valued at approximately $168,000. Finally, Cim Investment Mangement Inc. acquired a new position in shares of Galapagos NV in the 1st quarter valued at approximately $203,000. 23.62% of the stock is currently owned by institutional investors.
About Galapagos NV
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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