Brokerages Set Galapagos NV (NASDAQ:GLPG) Price Target at $36.50

Shares of Galapagos NV (NASDAQ:GLPG) have been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of equities research analysts have recently issued reports on GLPG shares. UBS Group reiterated a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Weiss Ratings upgraded shares of Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Raymond James Financial reiterated a “market perform” rating on shares of Galapagos in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of Galapagos from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, Royal Bank Of Canada lifted their price target on shares of Galapagos from $32.00 to $33.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 24th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLPG. State of Wyoming acquired a new position in shares of Galapagos during the 2nd quarter worth approximately $28,000. Van ECK Associates Corp raised its position in shares of Galapagos by 61.6% during the 4th quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 750 shares during the last quarter. Arax Advisory Partners raised its position in shares of Galapagos by 319.2% during the 4th quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company’s stock worth $76,000 after purchasing an additional 1,778 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of Galapagos during the 3rd quarter worth approximately $134,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Galapagos during the 3rd quarter worth approximately $211,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Galapagos Trading Down 3.7%

GLPG stock opened at $27.73 on Friday. The firm has a 50 day moving average of $30.46 and a 200-day moving average of $31.82. Galapagos has a 12-month low of $24.74 and a 12-month high of $37.78. The company has a market cap of $1.83 billion, a price-to-earnings ratio of -17.66 and a beta of 0.25.

Galapagos (NASDAQ:GLPG) last posted its quarterly earnings results on Sunday, February 15th. The biotechnology company reported $13.92 earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion for the quarter. Sell-side analysts forecast that Galapagos will post -6.97 earnings per share for the current fiscal year.

About Galapagos

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.