Goldman Sachs Group Inc. Upgrades Galapagos NV (GLPG) to “Buy”
Galapagos NV (NASDAQ:GLPG) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday.
Several other brokerages have also recently issued reports on GLPG. Zacks Investment Research upgraded shares of Galapagos NV from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, July 13th. Janney Montgomery Scott started coverage on shares of Galapagos NV in a research report on Tuesday, August 30th. They set a “buy” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of €67.80 ($74.51).
Galapagos NV (NASDAQ:GLPG) traded up 5.50% during midday trading on Tuesday, reaching $67.00. 54,669 shares of the company’s stock traded hands. The firm’s market cap is $3.09 billion. Galapagos NV has a 52-week low of $37.03 and a 52-week high of $73.37. The firm’s 50-day moving average is $61.70 and its 200 day moving average is $54.21.
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 https://www.americanbankingnews.com/2016/10/18/goldman-sachs-group-inc-upgrades-galapagos-nv-glpg-to-buy.html
A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake 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 worth $33,465,000 after buying an additional 177,656 shares during the period. Deerfield Management Co. boosted its stake in shares of Galapagos NV by 79.0% in the first quarter. Deerfield Management Co. now owns 327,626 shares of the company’s stock worth $13,701,000 after buying an additional 144,626 shares during the period. Tekla Capital Management LLC boosted 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 worth $8,195,000 after buying an additional 127,738 shares during the period. Adage Capital Partners GP L.L.C. boosted 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 worth $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 shares of Galapagos NV during the second quarter worth $3,634,000. Institutional investors and hedge funds 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.
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.