Galapagos (NASDAQ:GLPG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Galapagos NV (NASDAQ:GLPG)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $32.53 and traded as high as $34.28. Galapagos shares last traded at $33.88, with a volume of 95,515 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GLPG. Sanford C. Bernstein began coverage on Galapagos in a research report on Wednesday, November 26th. They issued a “hold” rating on the stock. Royal Bank Of Canada lifted 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. Wall Street Zen raised Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Weiss Ratings restated a “sell (d)” rating on shares of Galapagos in a report on Thursday, January 22nd. Finally, Leerink Partners raised Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $31.33.

Galapagos Stock Performance

The company’s 50 day simple moving average is $32.65 and its 200-day simple moving average is $32.53.

Institutional Investors Weigh In On Galapagos

A number of large investors have recently added to or reduced their stakes in GLPG. State of Wyoming bought a new position in shares of Galapagos during the 2nd quarter valued at $28,000. GAMMA Investing LLC increased its position in Galapagos by 79.4% during the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 652 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Galapagos in the third quarter valued at about $134,000. Squarepoint Ops LLC purchased a new position in Galapagos in the third quarter worth about $211,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of Galapagos during the 3rd quarter valued at about $212,000. Institutional investors own 32.46% of the company’s stock.

About Galapagos

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.