Galapagos (NASDAQ:GLPG) Price Target Raised to $32.00

Galapagos (NASDAQ:GLPG) had its price target increased by Royal Bank Of Canada from $28.00 to $32.00 in a report issued on Friday,Benzinga reports. The firm currently has a sector perform rating on the biotechnology company’s stock.

A number of other research firms have also issued reports on GLPG. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Galapagos in a research note on Tuesday, August 5th. Leerink Partnrs upgraded Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Galapagos from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Leerink Partners set a $40.00 price objective on shares of Galapagos and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Galapagos in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, Galapagos has an average rating of “Reduce” and a consensus target price of $31.33.

Galapagos Stock Performance

GLPG stock traded up $0.57 during midday trading on Friday, reaching $32.10. 67,711 shares of the company’s stock traded hands, compared to its average volume of 297,147. The firm has a market capitalization of $2.12 billion, a PE ratio of -20.49 and a beta of 0.23. The company has a 50-day moving average price of $32.91 and a two-hundred day moving average price of $30.72. Galapagos has a 52 week low of $22.36 and a 52 week high of $37.78.

Institutional Trading of Galapagos

A number of institutional investors have recently made changes to their positions in GLPG. Monaco Asset Management SAM raised its holdings in Galapagos by 140.2% during the 1st quarter. Monaco Asset Management SAM now owns 36,036 shares of the biotechnology company’s stock valued at $905,000 after buying an additional 21,036 shares during the last quarter. Wealthquest Corp purchased a new stake in shares of Galapagos in the 1st quarter worth about $74,000. ABC Arbitrage SA purchased a new position in shares of Galapagos during the first quarter valued at about $333,000. Tejara Capital Ltd bought a new position in Galapagos in the first quarter worth about $1,351,000. Finally, American Century Companies Inc. lifted its holdings in Galapagos by 7.7% in the first quarter. American Century Companies Inc. now owns 27,839 shares of the biotechnology company’s stock worth $699,000 after buying an additional 1,987 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.