Raymond James Downgrades Galapagos (NASDAQ:GLPG) to Market Perform

Raymond James lowered shares of Galapagos (NASDAQ:GLPG) from an outperform rating to a market perform rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Separately, Morgan Stanley reiterated an equal weight rating and set a $38.00 price objective on shares of Galapagos in a research note on Monday, April 22nd. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Galapagos has an average rating of Hold and an average target price of $34.50.

Galapagos Trading Up 2.4 %

Shares of GLPG traded up $0.60 on Friday, reaching $25.45. The stock had a trading volume of 83,114 shares, compared to its average volume of 122,310. The company has a 50-day simple moving average of $26.40 and a 200-day simple moving average of $30.95. Galapagos has a 12-month low of $24.77 and a 12-month high of $42.46.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its stake in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 814 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Galapagos by 48.1% in the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares during the period. AlphaCentric Advisors LLC grew its holdings in shares of Galapagos by 3.3% in the second quarter. AlphaCentric Advisors LLC now owns 108,500 shares of the biotechnology company’s stock worth $2,689,000 after acquiring an additional 3,500 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Galapagos by 18.5% in the first quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock worth $488,000 after acquiring an additional 2,366 shares during the period. Finally, Monaco Asset Management SAM grew its holdings in shares of Galapagos by 148.3% in the first quarter. Monaco Asset Management SAM now owns 16,744 shares of the biotechnology company’s stock worth $539,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

About Galapagos

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.