Galapagos (NASDAQ:GLPG) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Galapagos (NASDAQ:GLPG) from a hold rating to a sell rating in a research note published on Monday morning.

Several other research firms have also weighed in on GLPG. 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 note on Friday, November 7th. Leerink Partners set a $40.00 price target on Galapagos and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Leerink Partnrs upgraded Galapagos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein began coverage on shares of Galapagos in a report on Wednesday, November 26th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $31.33.

Galapagos Trading Up 0.5%

Shares of Galapagos stock opened at $33.11 on Monday. The firm’s 50-day simple moving average is $31.66 and its 200-day simple moving average is $31.63. Galapagos has a twelve month low of $22.36 and a twelve month high of $37.78.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Wyoming bought a new stake in Galapagos during the 2nd quarter worth about $28,000. GAMMA Investing LLC grew its stake in shares of Galapagos by 79.4% during the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 652 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Galapagos in the third quarter valued at approximately $134,000. Squarepoint Ops LLC bought a new position in Galapagos in the 3rd quarter worth approximately $211,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Galapagos in the 3rd quarter worth approximately $212,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

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.