Galapagos (NASDAQ:GLPG) Rating Increased to Buy at Wall Street Zen

Galapagos (NASDAQ:GLPG) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

GLPG has been the subject of several other research reports. UBS Group reaffirmed a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Weiss Ratings raised Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Raymond James Financial restated a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada lifted their target price on Galapagos from $32.00 to $33.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $36.50.

Galapagos Stock Performance

NASDAQ GLPG opened at $28.93 on Friday. The firm’s 50 day moving average price is $33.26 and its two-hundred day moving average price is $32.78. Galapagos has a twelve month low of $22.59 and a twelve month high of $37.78. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -18.43 and a beta of 0.26.

Institutional Trading of Galapagos

Institutional investors and hedge funds have recently made changes to their positions in the stock. Madison Avenue Partners LP boosted its stake in shares of Galapagos by 0.8% during the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock worth $72,371,000 after acquiring an additional 17,394 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock valued at $49,083,000 after acquiring an additional 1,362,229 shares in the last quarter. EcoR1 Capital LLC raised its stake 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 in the last quarter. UBS Group AG lifted its holdings in Galapagos by 128.4% in the 4th quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock worth $11,427,000 after purchasing an additional 196,445 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Galapagos by 121.9% in the 4th quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock worth $11,097,000 after purchasing an additional 186,452 shares during the last quarter. 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.