Galapagos NV (GLPG) Stock Rating Upgraded by Zacks Investment Research
Galapagos NV (NASDAQ:GLPG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $74.00 target price on the stock.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
Several other brokerages have also issued reports on GLPG. Janney Montgomery Scott assumed coverage on Galapagos NV in a research report on Tuesday, August 30th. They issued a “buy” rating and a $64.00 price objective for the company. Credit Suisse Group AG reiterated a “hold” rating and issued a $48.00 price objective on shares of Galapagos NV in a research report on Friday, June 17th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Galapagos NV has a consensus rating of “Buy” and a consensus price target of €67.80 ($75.33).
Shares of Galapagos NV (NASDAQ:GLPG) opened at 64.635 on Monday. The company has a 50 day moving average of $60.59 and a 200-day moving average of $53.59. Galapagos NV has a 12-month low of $37.03 and a 12-month high of $73.37. The firm’s market cap is $2.98 billion.
Institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in Galapagos NV during the second quarter worth $302,000. Deerfield Management Co. increased its position in Galapagos NV by 39.8% in the second quarter. Deerfield Management Co. now owns 458,112 shares of the company’s stock worth $25,411,000 after buying an additional 130,486 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Galapagos NV by 56.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 235,000 shares of the company’s stock worth $13,035,000 after buying an additional 85,000 shares during the period. Citadel Advisors LLC purchased a new position in Galapagos NV during the second quarter worth $347,000. Finally, Tekla Capital Management LLC increased its position in Galapagos NV by 638.7% in the second quarter. Tekla Capital Management LLC now owns 147,738 shares of the company’s stock worth $8,195,000 after buying an additional 127,738 shares during the period. 21.21% of the stock is owned by hedge funds and other institutional investors.
Galapagos NV Company Profile
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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