Galapagos (NASDAQ:GLPG) Upgraded by Bank of America to “Neutral”

Bank of America upgraded shares of Galapagos (NASDAQ:GLPG) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday morning, reports. Bank of America currently has $94.00 price target on the biotechnology company’s stock, up from their prior price target of $93.00.

Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Galapagos from a sell rating to a hold rating in a research note on Tuesday, November 24th. TheStreet cut Galapagos from a c- rating to a d+ rating in a report on Monday, December 7th. Morgan Stanley raised Galapagos from an equal weight rating to an overweight rating in a report on Tuesday, January 19th. Maxim Group cut Galapagos from a buy rating to a hold rating in a report on Wednesday, February 10th. Finally, UBS Group reaffirmed a neutral rating on shares of Galapagos in a report on Thursday, February 11th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $177.00.

Shares of GLPG stock opened at $85.69 on Tuesday. The business’s 50 day moving average is $100.33 and its two-hundred day moving average is $123.18. Galapagos has a twelve month low of $81.89 and a twelve month high of $252.31. The company has a market capitalization of $5.61 billion, a P/E ratio of -12.98 and a beta of 0.76.

A number of hedge funds have recently bought and sold shares of GLPG. Prospera Financial Services Inc acquired a new position in shares of Galapagos during the third quarter worth about $44,000. Pacer Advisors Inc. bought a new position in shares of Galapagos during the third quarter valued at approximately $65,000. Canton Hathaway LLC bought a new position in shares of Galapagos during the third quarter valued at approximately $150,000. Trexquant Investment LP bought a new position in shares of Galapagos during the fourth quarter valued at approximately $219,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of Galapagos by 18.1% during the third quarter. Venturi Wealth Management LLC now owns 1,549 shares of the biotechnology company’s stock valued at $220,000 after purchasing an additional 237 shares during the last quarter. 11.17% of the stock is owned by hedge funds and other institutional investors.

Galapagos Company Profile

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes various small molecule medicines. Its clinical stage programs include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, Sjögren's syndrome, ankylosing spondylitis, psoriatic arthritis, cutaneous lupus erythematosus, lupus membranous nephropathy, and uveitis.

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Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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