Galapagos (GLPG) Downgraded by BidaskClub to “Strong Sell”

Galapagos (NASDAQ:GLPG) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Several other equities research analysts have also weighed in on the company. ValuEngine lowered Galapagos from a “hold” rating to a “sell” rating in a report on Friday. BTIG Research reissued a “buy” rating and issued a $118.00 price objective on shares of Galapagos in a report on Monday, November 20th. Stifel Nicolaus reissued a “buy” rating and issued a $120.00 price objective on shares of Galapagos in a report on Sunday, October 29th. Zacks Investment Research raised Galapagos from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $123.00 price objective (up previously from $92.00) on shares of Galapagos in a report on Friday, October 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $111.00.

Shares of Galapagos (GLPG) traded down $0.93 on Friday, reaching $87.25. The company had a trading volume of 86,505 shares, compared to its average volume of 76,725. Galapagos has a 52 week low of $57.86 and a 52 week high of $104.12.

A number of hedge funds and other institutional investors have recently modified their holdings of GLPG. Bank of America Corp DE boosted its stake in Galapagos by 18.8% in the 1st quarter. Bank of America Corp DE now owns 4,379 shares of the biotechnology company’s stock worth $377,000 after purchasing an additional 694 shares during the period. Bank of Montreal Can boosted its stake in Galapagos by 45.5% in the 2nd quarter. Bank of Montreal Can now owns 2,828 shares of the biotechnology company’s stock worth $216,000 after purchasing an additional 884 shares during the period. Aperio Group LLC boosted its stake in Galapagos by 42.7% in the 2nd quarter. Aperio Group LLC now owns 3,404 shares of the biotechnology company’s stock worth $260,000 after purchasing an additional 1,018 shares during the period. Acadian Asset Management LLC bought a new position in Galapagos in the 2nd quarter worth about $166,000. Finally, World Asset Management Inc bought a new position in Galapagos in the 2nd quarter worth about $229,000. Institutional investors and hedge funds own 19.73% of the company’s stock.

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About Galapagos

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.

Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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