Galapagos (NASDAQ:GLPG) Stock Rating Lowered by Wall Street Zen

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

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

Galapagos Price Performance

NASDAQ GLPG opened at $32.31 on Monday. The business has a 50 day simple moving average of $31.72 and a 200 day simple moving average of $31.55. Galapagos has a 52-week low of $22.36 and a 52-week high of $37.78.

Institutional Trading of Galapagos

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its position in Galapagos by 2,490.1% during the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after purchasing an additional 1,362,229 shares during the last quarter. EcoR1 Capital LLC raised its stake in shares of Galapagos by 569.0% during the 2nd quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock worth $29,024,000 after purchasing an additional 881,939 shares in the last quarter. Vestal Point Capital LP boosted its holdings in shares of Galapagos by 11.1% in the 1st quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company’s stock valued at $5,024,000 after buying an additional 20,000 shares during the last quarter. Norges Bank bought a new position in shares of Galapagos in the second quarter valued at $3,359,000. Finally, Jane Street Group LLC grew its stake in shares of Galapagos by 2,245.7% in the first quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after buying an additional 115,946 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

Galapagos Company Profile

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.