Galapagos NV (GLPG) Rating Increased to Buy at Goldman Sachs Group Inc.
Galapagos NV (NASDAQ:GLPG) was upgraded by research analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research report issued on Tuesday.
Several other research analysts also recently weighed in on GLPG. Zacks Investment Research raised shares of Galapagos NV from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Monday, October 10th. Janney Montgomery Scott began coverage on shares of Galapagos NV in a research note on Tuesday, August 30th. They issued a “buy” rating and a $64.00 target price for the company. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of €67.80 ($74.51).
Shares of Galapagos NV (NASDAQ:GLPG) traded up 5.062% on Tuesday, reaching $66.725. 67,145 shares of the company’s stock traded hands. Galapagos NV has a 52 week low of $37.03 and a 52 week high of $73.37. The stock’s market capitalization is $3.08 billion. The stock’s 50-day moving average price is $61.70 and its 200-day moving average price is $54.21.
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A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in 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 period. Deerfield Management Co. boosted its stake in Galapagos NV by 79.0% in the first quarter. Deerfield Management Co. now owns 327,626 shares of the company’s stock valued at $13,701,000 after buying an additional 144,626 shares during the period. Tekla Capital Management LLC boosted its stake in 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. Adage Capital Partners GP L.L.C. boosted its stake in 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. Finally, Bank of New York Mellon Corp acquired a new stake in Galapagos NV during the second quarter valued at approximately $3,634,000. 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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