Galapagos (NASDAQ:GLPG) Upgraded at Leerink Partnrs

Leerink Partnrs upgraded shares of Galapagos (NASDAQ:GLPG) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on GLPG. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Galapagos in a report on Tuesday, August 5th. Wall Street Zen raised Galapagos from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Royal Bank Of Canada increased their price target on Galapagos from $27.00 to $28.00 and gave the company a “sector perform” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. Finally, Leerink Partners set a $40.00 price target on Galapagos and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $30.00.

Galapagos Stock Down 0.2%

Shares of GLPG opened at $31.96 on Wednesday. Galapagos has a 12-month low of $22.36 and a 12-month high of $37.78. The business’s fifty day moving average is $33.11 and its 200 day moving average is $30.13. The stock has a market cap of $2.11 billion, a P/E ratio of -20.36 and a beta of 0.28.

Institutional Investors Weigh In On Galapagos

Large investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC increased its holdings in Galapagos by 57.3% in the 1st quarter. 683 Capital Management LLC now owns 110,100 shares of the biotechnology company’s stock worth $2,766,000 after acquiring an additional 40,100 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in Galapagos in the 1st quarter worth about $1,885,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Galapagos in the 2nd quarter worth about $261,000. Vestal Point Capital LP increased its holdings in Galapagos by 11.1% in the 1st quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company’s stock worth $5,024,000 after acquiring an additional 20,000 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in Galapagos by 55.7% in the 2nd quarter. QRG Capital Management Inc. now owns 15,096 shares of the biotechnology company’s stock worth $423,000 after acquiring an additional 5,399 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.