Galapagos NV (GLPG) Upgraded to Hold by Zacks Investment Research
Galapagos NV (NASDAQ:GLPG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
GLPG has been the topic of several other research reports. Royal Bank Of Canada initiated coverage on shares of Galapagos NV in a report on Thursday, September 14th. They issued a “sector perform” rating and a $98.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $123.00 target price (up previously from $92.00) on shares of Galapagos NV in a report on Friday, October 6th. BTIG Research reaffirmed a “buy” rating and issued a $98.00 target price on shares of Galapagos NV in a report on Thursday, July 20th. BidaskClub lowered shares of Galapagos NV from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Nomura lowered their target price on shares of Galapagos NV from $108.00 to $121.00 and set a “buy” rating on the stock in a report on Thursday, June 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $108.14.
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A number of large investors have recently modified their holdings of GLPG. Federated Investors Inc. PA grew its holdings in Galapagos NV by 36.8% during the 2nd quarter. Federated Investors Inc. PA now owns 1,364,600 shares of the biotechnology company’s stock worth $104,419,000 after acquiring an additional 366,800 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Galapagos NV by 49.5% during the 2nd quarter. Renaissance Technologies LLC now owns 465,300 shares of the biotechnology company’s stock worth $35,605,000 after acquiring an additional 154,100 shares during the last quarter. Clough Capital Partners L P grew its holdings in Galapagos NV by 336.1% during the 1st quarter. Clough Capital Partners L P now owns 74,870 shares of the biotechnology company’s stock worth $6,453,000 after acquiring an additional 57,700 shares during the last quarter. Wellington Management Group LLP grew its holdings in Galapagos NV by 9.5% during the 1st quarter. Wellington Management Group LLP now owns 458,088 shares of the biotechnology company’s stock worth $39,483,000 after acquiring an additional 39,729 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new stake in Galapagos NV during the 2nd quarter worth about $1,151,000. 23.62% of the stock is currently owned by hedge funds and other 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.
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