Galapagos NV’s (GLPG) “Buy” Rating Reaffirmed at BTIG Research
BTIG Research reaffirmed their buy rating on shares of Galapagos NV (NASDAQ:GLPG) in a report published on Monday morning. The firm currently has a $118.00 price objective on the biotechnology company’s stock.
A number of other brokerages have also weighed in on GLPG. Zacks Investment Research upgraded shares of Galapagos NV from a sell rating to a hold rating in a research report on Wednesday, October 11th. Stifel Nicolaus upped their target price on shares of Galapagos NV from $101.00 to $120.00 and gave the stock a buy rating in a research report on Friday, September 15th. Royal Bank Of Canada began coverage on shares of Galapagos NV in a research report on Thursday, September 14th. They set a sector perform rating and a $98.00 target price for the company. Morgan Stanley restated an overweight rating and set a $123.00 target price (up previously from $92.00) on shares of Galapagos NV in a research report on Friday, October 6th. Finally, BidaskClub upgraded shares of Galapagos NV from a sell rating to a hold rating in a research report on Thursday, August 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Galapagos NV presently has a consensus rating of Buy and an average price target of $111.00.
Galapagos NV (NASDAQ:GLPG) traded up $2.56 on Monday, hitting $93.39. 121,500 shares of the company’s stock were exchanged, compared to its average volume of 153,645. Galapagos NV has a fifty-two week low of $57.16 and a fifty-two week high of $104.12.
Hedge funds have recently added to or reduced their stakes in the business. Advisors Preferred LLC bought a new position in Galapagos NV during the third quarter valued at $105,000. Envestnet Asset Management Inc. lifted its position in Galapagos NV by 156.6% during the third quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock valued at $177,000 after purchasing an additional 1,063 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Galapagos NV during the third quarter valued at $218,000. Acadian Asset Management LLC bought a new position in Galapagos NV during the second quarter valued at $166,000. Finally, New York State Common Retirement Fund bought a new position in Galapagos NV during the second quarter valued at $166,000. Institutional investors and hedge funds own 21.42% of the company’s stock.
About Galapagos NV
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
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