Galapagos NV (GLPG) Given New $121.00 Price Target at Nomura
Galapagos NV (NASDAQ:GLPG) had its price target dropped by stock analysts at Nomura from $108.00 to $121.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Nomura’s target price indicates a potential upside of 56.43% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. Instinet started coverage on Galapagos NV in a research report on Wednesday, March 1st. They issued a “buy” rating and a $87.00 price objective for the company. Zacks Investment Research raised Galapagos NV from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Tuesday, March 7th. Cowen and Company reaffirmed a “buy” rating on shares of Galapagos NV in a research report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Galapagos NV in a research report on Tuesday. Finally, TheStreet raised Galapagos NV from a “d+” rating to a “c” rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Galapagos NV has a consensus rating of “Buy” and an average target price of $90.50.
Shares of Galapagos NV (GLPG) traded up 2.31% during trading on Thursday, hitting $79.14. The stock had a trading volume of 103,344 shares. The company has a market cap of $3.66 billion, a PE ratio of 768.35 and a beta of 1.77. Galapagos NV has a 12-month low of $49.43 and a 12-month high of $94.88. The stock’s 50 day moving average is $83.52 and its 200-day moving average is $75.77.
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A number of hedge funds and other institutional investors have recently modified their holdings of GLPG. Tower Research Capital LLC TRC purchased a new position in shares of Galapagos NV during the first quarter worth $161,000. Bank of Montreal Can boosted its position in shares of Galapagos NV by 8,736.4% in the first quarter. Bank of Montreal Can now owns 1,944 shares of the biotechnology company’s stock worth $168,000 after buying an additional 1,922 shares in the last quarter. Cim Investment Mangement Inc. bought a new position in shares of Galapagos NV during the first quarter worth approximately $203,000. Karp Capital Management Corp bought a new position in shares of Galapagos NV during the first quarter worth approximately $206,000. Finally, Airain ltd bought a new position in shares of Galapagos NV during the first quarter worth approximately $237,000. Hedge funds and other institutional investors own 19.94% 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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