Galapagos NV (NASDAQ:GLPG) Given Consensus Recommendation of “Reduce” by Brokerages

Galapagos NV (NASDAQ:GLPG) has earned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $30.75.

GLPG has been the subject of several analyst reports. TD Cowen cut Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday. Kepler Capital Markets cut Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada cut their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st.

Galapagos Price Performance

Shares of GLPG opened at $25.65 on Monday. The firm has a fifty day moving average price of $27.23 and a 200 day moving average price of $27.51. Galapagos has a 1-year low of $24.16 and a 1-year high of $40.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GLPG. Headlands Technologies LLC lifted its holdings in shares of Galapagos by 56.7% in the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 446 shares during the period. GAMMA Investing LLC raised its holdings in shares of Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 736 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Galapagos by 63.2% in 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 lifted its stake in Galapagos by 21.6% in the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after acquiring an additional 814 shares in the last quarter. Finally, Signaturefd LLC boosted 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 period. Institutional investors own 32.46% of the company’s stock.

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.