Morgan Stanley Reiterates “Equal Weight” Rating for Galapagos (NASDAQ:GLPG)

Galapagos (NASDAQ:GLPG)‘s stock had its “equal weight” rating reaffirmed by equities research analysts at Morgan Stanley in a report issued on Monday, Benzinga reports. They presently have a $38.00 price objective on the biotechnology company’s stock. Morgan Stanley’s target price points to a potential upside of 29.03% from the stock’s previous close.

Other research analysts have also issued reports about the stock. StockNews.com lowered shares of Galapagos from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. Bank of America reissued an “underperform” rating and set a $31.00 target price (down from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Galapagos Stock Performance

NASDAQ:GLPG opened at $29.45 on Monday. The firm’s fifty day moving average is $33.91 and its 200-day moving average is $36.41. Galapagos has a 52 week low of $28.82 and a 52 week high of $45.21. The firm has a market cap of $1.94 billion, a P/E ratio of -12.86 and a beta of 0.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLPG. Vestal Point Capital LP acquired a new position in Galapagos during the fourth quarter worth $5,284,000. Stonepine Capital Management LLC raised its holdings in Galapagos by 17.6% during the third quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock worth $27,728,000 after buying an additional 119,880 shares during the last quarter. Citigroup Inc. raised its holdings in Galapagos by 7,243.0% during the third quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock worth $3,133,000 after buying an additional 89,451 shares during the last quarter. FMR LLC raised its holdings in Galapagos by 0.7% during the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after buying an additional 28,497 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in Galapagos by 7.7% during the third quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock worth $12,092,000 after buying an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

Galapagos Company Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.