Galapagos NV (GLPG) Coverage Initiated by Analysts at Royal Bank Of Canada
Royal Bank Of Canada initiated coverage on shares of Galapagos NV (NASDAQ:GLPG) in a research report issued on Thursday, The Fly reports. The firm set a “sector perform” rating on the biotechnology company’s stock.
Other research analysts also recently issued research reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $92.00 target price on shares of Galapagos NV in a research report on Thursday, August 10th. Stifel Nicolaus raised shares of Galapagos NV from a “hold” rating to a “buy” rating and raised their target price for the company from $83.00 to $101.00 in a research report on Friday, August 11th. Cowen and Company reaffirmed a “buy” rating on shares of Galapagos NV in a research report on Thursday, August 10th. Janney Montgomery Scott raised shares of Galapagos NV from a “sell” rating to a “neutral” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Galapagos NV from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $101.50.
Galapagos NV (NASDAQ GLPG) traded up 1.96% during midday trading on Thursday, hitting $103.46. 70,350 shares of the company traded hands. The stock’s 50-day moving average is $101.59 and its 200-day moving average is $84.97. Galapagos NV has a 12-month low of $57.16 and a 12-month high of $103.54.
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A number of hedge funds have recently made changes to their positions in the business. Cookson Peirce & Co. Inc. lifted its stake in Galapagos NV by 0.7% in the second quarter. Cookson Peirce & Co. Inc. now owns 3,045 shares of the biotechnology company’s stock valued at $233,000 after acquiring an additional 20 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Galapagos NV in the second quarter valued at $214,000. Cubist Systematic Strategies LLC acquired a new stake in Galapagos NV in the second quarter valued at $704,000. EcoR1 Capital LLC lifted its stake in Galapagos NV by 5.0% in the second quarter. EcoR1 Capital LLC now owns 578,505 shares of the biotechnology company’s stock valued at $44,267,000 after acquiring an additional 27,464 shares during the last quarter. Finally, DAFNA Capital Management LLC lifted its stake in Galapagos NV by 9.2% in the second quarter. DAFNA Capital Management LLC now owns 38,609 shares of the biotechnology company’s stock valued at $2,954,000 after acquiring an additional 3,250 shares during the last quarter. Hedge funds and other institutional investors own 23.63% 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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