Galapagos NV (GLPG) Upgraded to Buy by Zacks Investment Research
Galapagos NV (NASDAQ:GLPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage presently has a $74.00 price target 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 equities analysts also recently weighed in on GLPG. Credit Suisse Group AG reaffirmed a “hold” rating and set a $48.00 target price on shares of Galapagos NV in a research note on Friday, June 17th. Janney Montgomery Scott assumed coverage on shares of Galapagos NV in a research note on Tuesday, August 30th. They set a “buy” rating and a $64.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of €67.80 ($75.33).
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/galapagos-nv-glpg-upgraded-to-buy-by-zacks-investment-research.html
Galapagos NV (NASDAQ:GLPG) traded up 0.83% during trading on Monday, reaching $65.64. The company had a trading volume of 95,051 shares. The firm’s market capitalization is $3.03 billion. Galapagos NV has a 12-month low of $37.03 and a 12-month high of $73.37. The firm’s 50 day moving average price is $60.30 and its 200 day moving average price is $53.51.
Large investors have recently made changes to their positions in the stock. Fiera Capital Corp purchased a new stake in shares of Galapagos NV during the second quarter valued at $302,000. Deerfield Management Co. increased its stake 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 period. Adage Capital Partners GP L.L.C. increased its stake 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 period. Citadel Advisors LLC purchased a new stake in shares of Galapagos NV during the second quarter valued at $347,000. Finally, Tekla Capital Management LLC increased its stake 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 period. 21.21% of the stock is owned by institutional investors.
Galapagos NV Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Galapagos NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galapagos NV and related companies with MarketBeat.com's FREE daily email newsletter.