Galapagos (NASDAQ:GLPG) Upgraded by Wall Street Zen to “Hold” Rating

Galapagos (NASDAQ:GLPG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

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

Galapagos Trading Down 2.7%

Galapagos stock opened at $31.69 on Friday. The stock has a 50-day moving average price of $32.03 and a 200 day moving average price of $31.44. Galapagos has a 52 week low of $22.36 and a 52 week high of $37.78.

Hedge Funds Weigh In On Galapagos

Several institutional investors have recently modified their holdings of the company. State of Wyoming bought a new stake in Galapagos in the 2nd quarter valued at about $28,000. GAMMA Investing LLC increased its stake in shares of Galapagos by 79.4% in the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 652 shares during the period. Quadrant Capital Group LLC bought a new stake in shares of Galapagos during the third quarter valued at approximately $134,000. Squarepoint Ops LLC acquired a new position in shares of Galapagos during the third quarter worth approximately $211,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Galapagos during the third quarter worth approximately $212,000. Institutional investors own 32.46% of the company’s stock.

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.