Galapagos (NASDAQ:GLPG) PT Set at $40.00 by Leerink Partners

Galapagos (NASDAQ:GLPG) has been given a $40.00 price target by stock analysts at Leerink Partners in a report issued on Tuesday, Marketbeat reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Leerink Partners’ target price points to a potential upside of 25.51% from the stock’s previous close.

A number of other brokerages also recently weighed in on GLPG. Wall Street Zen upgraded Galapagos from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Galapagos in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $30.00.

Galapagos Stock Performance

Galapagos stock opened at $31.87 on Tuesday. Galapagos has a fifty-two week low of $22.36 and a fifty-two week high of $37.78. The firm’s 50-day simple moving average is $33.12 and its 200 day simple moving average is $30.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLPG. 683 Capital Management LLC increased its holdings in Galapagos by 57.3% in the 1st quarter. 683 Capital Management LLC now owns 110,100 shares of the biotechnology company’s stock worth $2,766,000 after acquiring an additional 40,100 shares during the last quarter. OLD Mission Capital LLC bought a new position in Galapagos during the first quarter worth about $1,885,000. Vestal Point Capital LP boosted its position in Galapagos by 11.1% during the first quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company’s stock worth $5,024,000 after purchasing an additional 20,000 shares during the period. Wealthquest Corp purchased a new position in shares of Galapagos in the first quarter worth about $74,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of Galapagos in the second quarter valued at approximately $261,000. Institutional investors own 32.46% of the company’s stock.

About Galapagos

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.