Galapagos (NASDAQ:GLPG) Shares Gap Up – Time to Buy?

Galapagos NV (NASDAQ:GLPG) gapped up prior to trading on Wednesday . The stock had previously closed at $28.79, but opened at $29.49. Galapagos shares last traded at $29.40, with a volume of 130,033 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GLPG shares. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.75.

Galapagos Stock Down 8.9 %

The firm has a fifty day moving average of $27.26 and a two-hundred day moving average of $27.50.

Hedge Funds Weigh In On Galapagos

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC boosted its position in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after acquiring an additional 446 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Galapagos by 140.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 736 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. Rhumbline Advisers grew its stake in Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares in the last quarter. 32.46% of the stock is owned by hedge funds and other institutional investors.

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.