Galapagos NV (NASDAQ:GLPG) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have earned an average recommendation of “Reduce” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.33.

GLPG has been the subject of several recent research reports. Morgan Stanley downgraded shares of Galapagos from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. StockNews.com downgraded shares of Galapagos from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. TD Cowen downgraded shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Finally, Barclays reissued an “underweight” rating on shares of Galapagos in a research note on Thursday, January 23rd.

Hedge Funds Weigh In On Galapagos

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Galapagos by 77.4% in the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock worth $61,000 after buying an additional 974 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Galapagos by 31.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 49,163 shares of the biotechnology company’s stock worth $1,352,000 after buying an additional 11,777 shares in the last quarter. Gilead Sciences Inc. bought a new position in Galapagos in the fourth quarter worth about $461,727,000. American Century Companies Inc. raised its stake in Galapagos by 5.9% in the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company’s stock worth $711,000 after buying an additional 1,431 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in Galapagos by 137.8% in the fourth quarter. XTX Topco Ltd now owns 19,833 shares of the biotechnology company’s stock worth $545,000 after buying an additional 11,492 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Galapagos Stock Performance

Shares of GLPG opened at $26.92 on Wednesday. Galapagos has a fifty-two week low of $22.36 and a fifty-two week high of $31.23. The firm has a 50 day moving average price of $25.39 and a 200-day moving average price of $26.15.

Galapagos (NASDAQ:GLPG) last posted its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The business had revenue of $97.33 million for the quarter, compared to analyst estimates of $72.22 million. Equities analysts expect that Galapagos will post -1.6 earnings per share for the current year.

Galapagos Company Profile

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.