Galapagos’ (GLPG) Underweight Rating Reaffirmed at Barclays

Barclays reiterated their underweight rating on shares of Galapagos (NASDAQ:GLPG) in a research note released on Thursday morning,Benzinga reports.

A number of other equities research analysts also recently issued reports on GLPG. TD Cowen downgraded shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 9th. Royal Bank of Canada cut their price target on Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Four analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Price Performance

GLPG opened at $23.74 on Thursday. The company’s 50 day moving average is $26.70 and its 200 day moving average is $27.45. Galapagos has a 12-month low of $23.45 and a 12-month high of $40.34.

Hedge Funds Weigh In On Galapagos

A number of hedge funds have recently made changes to their positions in the business. R Squared Ltd purchased a new position in Galapagos in the 4th quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of Galapagos by 140.7% in the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after buying an additional 736 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of 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 worth $112,000 after acquiring an additional 1,510 shares during the last quarter. Rhumbline Advisers grew its stake in Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 2,541 shares in the last quarter. 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.