GALAPAGOS NV/S (GLPG) Trading Up -1.6% on Analyst Upgrade
GALAPAGOS NV/S (NASDAQ:GLPG) shares were up 1.6% on Thursday after Stifel Nicolaus raised their price target on the stock from $109.00 to $111.00. Stifel Nicolaus currently has a buy rating on the stock. GALAPAGOS NV/S traded as high as $122.28 and last traded at $119.02. Approximately 40,587 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 81,591 shares. The stock had previously closed at $121.00.
Several other brokerages have also recently commented on GLPG. Zacks Investment Research cut shares of GALAPAGOS NV/S from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. ValuEngine upgraded shares of GALAPAGOS NV/S from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 28th. BidaskClub cut shares of GALAPAGOS NV/S from a “buy” rating to a “hold” rating in a research report on Thursday, June 14th. Goldman Sachs Group reiterated a “neutral” rating on shares of GALAPAGOS NV/S in a research report on Friday, August 17th. Finally, Morgan Stanley upped their target price on shares of GALAPAGOS NV/S from $126.00 to $127.00 and gave the company an “overweight” rating in a research report on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $113.71.
Several institutional investors have recently modified their holdings of GLPG. Federated Investors Inc. PA raised its position in shares of GALAPAGOS NV/S by 9.3% during the 2nd quarter. Federated Investors Inc. PA now owns 1,424,763 shares of the biotechnology company’s stock valued at $131,335,000 after acquiring an additional 121,415 shares during the last quarter. Aquilo Capital Management LLC acquired a new position in shares of GALAPAGOS NV/S in the 2nd quarter valued at $6,088,000. Farallon Capital Management LLC grew its holdings in shares of GALAPAGOS NV/S by 6.3% in the 1st quarter. Farallon Capital Management LLC now owns 308,260 shares of the biotechnology company’s stock valued at $30,752,000 after buying an additional 18,260 shares during the period. Employees Retirement System of Texas grew its holdings in shares of GALAPAGOS NV/S by 26.8% in the 2nd quarter. Employees Retirement System of Texas now owns 71,000 shares of the biotechnology company’s stock valued at $6,545,000 after buying an additional 15,000 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of GALAPAGOS NV/S in the 2nd quarter valued at $1,152,000. Institutional investors own 14.64% of the company’s stock.
GALAPAGOS NV/S (NASDAQ:GLPG) last announced its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.41. GALAPAGOS NV/S had a negative net margin of 70.80% and a negative return on equity of 13.26%. The company had revenue of $59.27 million during the quarter, compared to analyst estimates of $50.58 million. research analysts anticipate that GALAPAGOS NV/S will post -3.12 EPS for the current year.
About GALAPAGOS NV/S (NASDAQ:GLPG)
Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes novel medicines. Its clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis and Crohn's disease, Phase 2/3 trials for ulcerative colitis, and Phase II trials for multiple additional indications; GLPG1690, an autotaxin inhibitor, which is in Phase III clinical trial for the treatment of idiopathic pulmonary fibrosis; GLPG1972 that completed Phase 1b clinical trial for the treatment of osteoarthritis; and MOR106, which is in Phase II trials for atopic dermatitis patients.
Further Reading: How Do I Invest in Dividend Stocks
Receive News & Ratings for GALAPAGOS NV/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GALAPAGOS NV/S and related companies with MarketBeat.com's FREE daily email newsletter.