Erste Asset Management GmbH Takes $410,000 Position in Galapagos NV (NASDAQ:GLPG)

Erste Asset Management GmbH purchased a new stake in Galapagos NV (NASDAQ:GLPG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 14,000 shares of the biotechnology company’s stock, valued at approximately $410,000.

Several other hedge funds have also made changes to their positions in the company. Stonepine Capital Management LLC lifted its holdings in shares of Galapagos by 23.2% in the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after acquiring an additional 91,366 shares during the last quarter. DME Capital Management LP lifted its holdings in shares of Galapagos by 46.9% in the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after acquiring an additional 75,000 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Galapagos in the 3rd quarter worth approximately $1,077,000. Creative Planning acquired a new position in shares of Galapagos in the 2nd quarter worth approximately $456,000. Finally, Millennium Management LLC lifted its holdings in shares of Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after acquiring an additional 17,089 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GLPG. Royal Bank of Canada decreased their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Leerink Partners initiated coverage on shares of Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price on the stock. Finally, Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.75.

Galapagos Stock Performance

Shares of GLPG opened at $27.07 on Thursday. Galapagos NV has a twelve month low of $24.16 and a twelve month high of $42.46. The firm’s fifty day simple moving average is $28.26 and its 200-day simple moving average is $27.42.

Galapagos Company Profile

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.