Galapagos NV (NASDAQ:GLPG) Given Average Rating of “Reduce” by Brokerages

Shares of Galapagos NV (NASDAQ:GLPG) have been assigned an average recommendation of “Reduce” from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $25.33.

Several equities analysts have recently issued reports on GLPG shares. Wall Street Zen lowered Galapagos from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Morgan Stanley lowered Galapagos from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $22.00 in a research note on Friday, February 14th.

Institutional Investors Weigh In On Galapagos

Several hedge funds have recently modified their holdings of the company. Gilead Sciences Inc. acquired a new position in Galapagos in the 4th quarter worth about $461,727,000. Tang Capital Management LLC grew its holdings in shares of Galapagos by 208.7% during the fourth quarter. Tang Capital Management LLC now owns 2,161,200 shares of the biotechnology company’s stock worth $59,433,000 after purchasing an additional 1,461,200 shares during the last quarter. Deep Track Capital LP acquired a new position in shares of Galapagos in the fourth quarter valued at approximately $21,471,000. Finepoint Capital LP raised its holdings in Galapagos by 21.0% in the 4th quarter. Finepoint Capital LP now owns 674,762 shares of the biotechnology company’s stock valued at $18,556,000 after buying an additional 117,000 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its holdings in Galapagos by 8.7% in the 4th quarter. Hudson Bay Capital Management LP now owns 554,300 shares of the biotechnology company’s stock valued at $15,243,000 after buying an additional 44,300 shares during the last quarter. Institutional investors and hedge funds own 32.46% of the company’s stock.

Galapagos Stock Up 0.1%

Shares of Galapagos stock opened at $28.35 on Thursday. The company has a 50 day moving average of $26.60 and a 200-day moving average of $26.09. Galapagos has a 1-year low of $22.36 and a 1-year high of $31.23.

Galapagos (NASDAQ:GLPG) last announced its quarterly earnings data on Wednesday, April 23rd. The biotechnology company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The business had revenue of $97.33 million for the quarter, compared to analyst estimates of $72.22 million. As a group, equities analysts forecast that Galapagos will post -1.6 earnings per share for the current year.

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.