Galapagos (NASDAQ:GLPG) Downgraded to Strong Sell Rating by TD Cowen

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

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

Galapagos Trading Down 8.9 %

Shares of Galapagos stock opened at $25.65 on Thursday. Galapagos has a twelve month low of $24.16 and a twelve month high of $40.34. The company has a 50-day simple moving average of $27.26 and a two-hundred day simple moving average of $27.50.

Institutional Trading of Galapagos

Several large investors have recently bought and sold shares of GLPG. Headlands Technologies LLC grew its stake in shares of Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the last quarter. GAMMA Investing LLC increased its holdings in Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 736 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after purchasing an additional 1,510 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares during the last quarter. 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.