Galapagos (NASDAQ:GLPG) Price Target Lowered to $30.00 at Royal Bank of Canada

by · The Markets Daily

Galapagos (NASDAQ:GLPG – Free Report) had its price target trimmed by Royal Bank of Canada from $32.00 to $30.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a sector perform rating on the biotechnology company’s stock.

Several other equities analysts also recently commented on GLPG. Raymond James downgraded shares of Galapagos from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Leerink Partners started coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Finally, Leerink Partnrs raised shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat, Galapagos presently has an average rating of “Hold” and a consensus price target of $30.75.

Check Out Our Latest Report on Galapagos

Galapagos Stock Performance

Shares of Galapagos stock traded up $0.45 on Friday, reaching $26.89. 466,666 shares of the stock were exchanged, compared to its average volume of 135,762. The firm’s 50 day moving average is $29.24 and its 200-day moving average is $27.73. Galapagos has a one year low of $24.16 and a one year high of $42.46.

Hedge Funds Weigh In On Galapagos

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Creative Planning acquired a new position in Galapagos in the 2nd quarter valued at approximately $456,000. Signaturefd LLC increased its position in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,541 shares during the period. Headlands Technologies LLC increased its position in shares of Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the period. BNP Paribas Financial Markets increased its position in shares of Galapagos by 783.6% during the first quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock worth $172,000 after buying an additional 4,725 shares during the period. Finally, Stonepine Capital Management LLC increased its position in shares of Galapagos by 23.2% during the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares during the period. 32.46% of the stock is currently owned by institutional investors and hedge funds.

About Galapagos

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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.

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