Brokerages Set Galapagos NV (NASDAQ:GLPG) Target Price at $36.50

Galapagos NV (NASDAQ:GLPG) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $36.50.

Several analysts have recently weighed in on GLPG shares. Royal Bank Of Canada lifted their target price on shares of Galapagos from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Sanford C. Bernstein assumed coverage on Galapagos in a report on Wednesday, November 26th. They set a “hold” rating on the stock. Weiss Ratings upgraded Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Galapagos in a report on Tuesday, February 24th.

Galapagos Trading Down 3.2%

GLPG opened at $32.17 on Friday. The firm’s fifty day moving average price is $33.63 and its two-hundred day moving average price is $32.85. Galapagos has a fifty-two week low of $22.59 and a fifty-two week high of $37.78.

Institutional Investors Weigh In On Galapagos

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming bought a new stake in shares of Galapagos in the 2nd quarter worth about $28,000. GAMMA Investing LLC lifted its holdings in Galapagos by 79.4% during the 3rd 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 last quarter. Van ECK Associates Corp lifted its holdings in Galapagos by 61.6% during the 4th quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 750 shares during the last quarter. Arax Advisory Partners boosted its position in Galapagos by 319.2% in the fourth quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company’s stock valued at $76,000 after buying an additional 1,778 shares in the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Galapagos in the third quarter valued at about $134,000. Institutional investors and hedge funds 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.