Galapagos (NASDAQ:GLPG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Galapagos (NASDAQ:GLPG) from a sell rating to a hold rating in a research report released on Tuesday morning.

Other research analysts have also recently issued research reports about the stock. Leerink Partnrs raised shares of Galapagos from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Galapagos in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their price objective on Galapagos from $28.00 to $32.00 and gave the company a “sector perform” rating in a report on Friday, November 7th. Sanford C. Bernstein initiated coverage on Galapagos in a research note on Wednesday, November 26th. They issued a “hold” rating on the stock. Finally, Leerink Partners set a $40.00 price target on Galapagos and gave the company an “outperform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $31.33.

Galapagos Stock Up 0.3%

Galapagos stock opened at $32.70 on Tuesday. The stock has a 50-day moving average price of $31.64 and a 200 day moving average price of $31.79. Galapagos has a 52 week low of $22.36 and a 52 week high of $37.78.

Institutional Investors Weigh In On Galapagos

A number of institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. raised its holdings in Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock worth $49,083,000 after purchasing an additional 1,362,229 shares during the period. EcoR1 Capital LLC increased its position in shares of Galapagos by 569.0% in the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after buying an additional 881,939 shares in the last quarter. Vestal Point Capital LP increased its position in shares of Galapagos by 11.1% in the first quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company’s stock valued at $5,024,000 after buying an additional 20,000 shares in the last quarter. Norges Bank acquired a new position in shares of Galapagos during the 2nd quarter worth approximately $3,359,000. Finally, Jane Street Group LLC lifted its position in shares of Galapagos by 2,245.7% during the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after buying an additional 115,946 shares in the last quarter. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Galapagos Company Profile

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.