Galapagos NV (GLPG) Upgraded at Zacks Investment Research
Galapagos NV (NASDAQ:GLPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $74.00 target price on the stock.
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 research analysts have also recently commented on GLPG. Credit Suisse Group AG restated a “hold” rating and issued a $48.00 price target on shares of Galapagos NV in a report on Friday, June 17th. Janney Montgomery Scott began coverage on shares of Galapagos NV in a report on Tuesday, August 30th. They issued a “buy” rating and a $64.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of €67.80 ($75.33).
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Galapagos NV (NASDAQ:GLPG) traded up 0.83% on Monday, reaching $65.64. 95,051 shares of the company traded hands. The stock’s 50-day moving average is $60.30 and its 200-day moving average is $53.51. The stock’s market capitalization is $3.03 billion. Galapagos NV has a 1-year low of $37.03 and a 1-year high of $73.37.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Galapagos NV by 0.6% in the second quarter. FMR LLC now owns 4,610,950 shares of the company’s stock valued at $255,769,000 after buying an additional 27,246 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Galapagos NV by 28.5% in the first quarter. Wellington Management Group LLP now owns 800,199 shares of the company’s stock valued at $33,465,000 after buying an additional 177,656 shares during the last quarter. Deerfield Management Co. boosted its position in shares of Galapagos NV by 39.8% in the second quarter. Deerfield Management Co. now owns 458,112 shares of the company’s stock valued at $25,411,000 after buying an additional 130,486 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of Galapagos NV by 56.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 235,000 shares of the company’s stock valued at $13,035,000 after buying an additional 85,000 shares during the last quarter. Finally, Tekla Capital Management LLC boosted its position in shares of Galapagos NV by 638.7% in the second quarter. Tekla Capital Management LLC now owns 147,738 shares of the company’s stock valued at $8,195,000 after buying an additional 127,738 shares during the last quarter. Institutional investors own 21.21% of the company’s stock.
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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