Galapagos (NASDAQ:GLPG) Given Equal Weight Rating at Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Galapagos (NASDAQ:GLPG) in a research report report published on Monday, Benzinga reports. The brokerage currently has a $38.00 price objective on the biotechnology company’s stock.

GLPG has been the topic of several other reports. 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 research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $34.50.

Galapagos Stock Down 0.0 %

Shares of NASDAQ GLPG opened at $29.07 on Monday. The firm has a market cap of $1.92 billion, a PE ratio of -12.69 and a beta of 0.25. Galapagos has a 12-month low of $28.82 and a 12-month high of $45.21. The company’s fifty day simple moving average is $33.91 and its 200 day simple moving average is $36.41.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of Galapagos by 173.8% in the third quarter. Acadian Asset Management LLC now owns 19,149 shares of the biotechnology company’s stock valued at $661,000 after buying an additional 12,154 shares in the last quarter. FMR LLC lifted its position in shares of Galapagos by 0.7% during the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock valued at $149,176,000 after purchasing an additional 28,497 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Galapagos by 357.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,265 shares of the biotechnology company’s stock valued at $92,000 after purchasing an additional 1,770 shares in the last quarter. Citigroup Inc. lifted its position in shares of Galapagos by 7,243.0% during the third quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock valued at $3,133,000 after purchasing an additional 89,451 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in shares of Galapagos by 7.7% during the third quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock valued at $12,092,000 after purchasing an additional 25,000 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

About Galapagos

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.