Brokerages Set Galapagos NV (NASDAQ:GLPG) Target Price at $31.00

Shares of Galapagos NV (NASDAQ:GLPG) have been given a consensus rating of “Reduce” by the five analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $31.00.

A number of research firms recently issued reports on GLPG. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Leerink Partners started coverage on shares of Galapagos in a research note on Monday. They set a “market perform” rating and a $24.00 price target on the stock. Finally, Leerink Partnrs upgraded Galapagos to a “hold” rating in a research note on Monday.

Galapagos Price Performance

GLPG stock opened at $29.30 on Tuesday. The business’s 50-day moving average is $26.72 and its two-hundred day moving average is $28.71. Galapagos has a fifty-two week low of $24.16 and a fifty-two week high of $42.46.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GLPG. Quadrant Capital Group LLC raised its position in shares of Galapagos by 18.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 261 shares during the last quarter. Primecap Management Co. CA lifted its stake in Galapagos by 1.4% in the 4th quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock worth $27,596,000 after purchasing an additional 9,200 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Galapagos during the 4th quarter valued at about $5,284,000. Barometer Capital Management Inc. purchased a new position in shares of Galapagos during the fourth quarter valued at about $122,000. Finally, Greenlight Capital Inc. grew 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 valued at $6,609,000 after purchasing an additional 6,200 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

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.