Galapagos (NASDAQ:GLPG) Cut to Sell at Wall Street Zen

Galapagos (NASDAQ:GLPG) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

GLPG has been the subject of several other research reports. Sanford C. Bernstein began coverage on shares of Galapagos in a report on Wednesday, November 26th. They issued a “hold” rating for the company. Leerink Partnrs raised shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Leerink Partners set a $40.00 price objective on shares of Galapagos and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Royal Bank Of Canada raised their price objective on Galapagos from $28.00 to $32.00 and gave the stock a “sector perform” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, Galapagos presently has a consensus rating of “Reduce” and an average price target of $31.33.

Galapagos Trading Down 0.6%

Shares of NASDAQ GLPG opened at $31.59 on Friday. The business’s fifty day simple moving average is $32.39 and its 200-day simple moving average is $31.32. Galapagos has a 12-month low of $22.36 and a 12-month high of $37.78.

Institutional Trading of Galapagos

A number of hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in Galapagos by 2,490.1% in the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after buying an additional 1,362,229 shares during the last quarter. EcoR1 Capital LLC increased its holdings in shares of Galapagos by 569.0% in the 2nd quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after acquiring an additional 881,939 shares during the last quarter. Norges Bank acquired a new stake in shares of Galapagos during the 2nd quarter valued at approximately $3,359,000. Jane Street Group LLC lifted its stake in Galapagos by 2,245.7% during the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock worth $2,783,000 after purchasing an additional 115,946 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Galapagos by 5,613.7% during the second quarter. Tower Research Capital LLC TRC now owns 79,135 shares of the biotechnology company’s stock worth $2,215,000 after purchasing an additional 77,750 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.