TD Cowen Downgrades Galapagos (NASDAQ:GLPG) to Strong Sell

Galapagos (NASDAQ:GLPG) was downgraded by equities research analysts at TD Cowen from a “strong-buy” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

Several other analysts also recently issued reports on GLPG. Royal Bank of Canada decreased their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Price Performance

NASDAQ:GLPG opened at $28.17 on Thursday. The business’s 50-day simple moving average is $27.22 and its two-hundred day simple moving average is $27.50. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Galapagos by 77.4% during the fourth quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 974 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Galapagos during the 3rd quarter valued at about $410,000. Finepoint Capital LP lifted its holdings in shares of Galapagos by 2.8% in the 3rd quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock valued at $16,058,000 after acquiring an additional 15,000 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Galapagos in the third quarter worth about $1,077,000. Finally, QRG Capital Management Inc. bought a new stake in Galapagos during the third quarter worth approximately $247,000. 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.