Galapagos NV (NASDAQ:GLPG) Receives Consensus Recommendation of “Strong Sell” from Analysts

Galapagos NV (NASDAQ:GLPG) has been given an average rating of “Strong Sell” by the nine ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.75.

GLPG has been the subject of a number of analyst reports. Morgan Stanley lowered shares of Galapagos from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $22.00 in a research report on Friday, February 14th. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, January 9th. Barclays reissued an “underweight” rating on shares of Galapagos in a research note on Thursday, January 23rd. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th.

Galapagos Price Performance

Shares of GLPG stock opened at $25.99 on Tuesday. The firm has a 50-day moving average price of $25.38 and a 200 day moving average price of $27.13. Galapagos has a twelve month low of $22.36 and a twelve month high of $35.18.

Institutional Trading of Galapagos

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Gilead Sciences Inc. purchased a new stake in Galapagos during the fourth quarter valued at about $461,727,000. Tang Capital Management LLC lifted its stake in shares of Galapagos by 208.7% in the 4th quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock valued at $59,433,000 after purchasing an additional 1,461,200 shares in the last quarter. Deep Track Capital LP purchased a new stake in shares of Galapagos during the 4th quarter worth about $21,471,000. Norges Bank acquired a new stake in Galapagos during the 4th quarter worth approximately $3,300,000. Finally, Finepoint Capital LP raised its holdings in Galapagos by 21.0% in the fourth quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company’s stock valued at $18,556,000 after buying an additional 117,000 shares during the period. 32.46% of the stock is currently owned by institutional investors and hedge funds.

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.