Galapagos (NASDAQ:GLPG) Raised to Hold at Wall Street Zen

Galapagos (NASDAQ:GLPG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

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

Galapagos Stock Up 0.3%

Shares of NASDAQ:GLPG opened at $32.70 on Tuesday. Galapagos has a 12 month low of $22.36 and a 12 month high of $37.78. The company has a 50-day moving average price of $31.63 and a 200 day moving average price of $31.79.

Institutional Trading of Galapagos

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

About Galapagos

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.