Galapagos (NASDAQ:GLPG) Coverage Initiated at Leerink Partners

Equities research analysts at Leerink Partners started coverage on shares of Galapagos (NASDAQ:GLPG) in a report released on Monday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $24.00 price target on the biotechnology company’s stock. Leerink Partners’ target price suggests a potential downside of 17.21% from the company’s current price.

Separately, Raymond James downgraded Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.00.

Galapagos Price Performance

Galapagos stock opened at $28.99 on Monday. The business’s fifty day moving average is $26.64 and its two-hundred day moving average is $28.71. Galapagos has a 52 week low of $24.16 and a 52 week high of $42.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GLPG. Quadrant Capital Group LLC grew its stake in Galapagos by 18.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 261 shares during the period. Primecap Management Co. CA boosted its position in shares of Galapagos by 1.4% during the fourth quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock worth $27,596,000 after buying an additional 9,200 shares during the period. Vestal Point Capital LP acquired a new position in shares of Galapagos during the fourth quarter worth about $5,284,000. Barometer Capital Management Inc. acquired a new position in shares of Galapagos during the fourth quarter worth about $122,000. Finally, Greenlight Capital Inc. boosted its position in shares of Galapagos by 4.0% during the fourth quarter. Greenlight Capital Inc. now owns 162,578 shares of the biotechnology company’s stock worth $6,609,000 after buying an additional 6,200 shares during the period. 32.46% of the stock is owned by institutional investors and hedge funds.

About Galapagos

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.