Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Should You Buy?

Shares of Galapagos NV (NASDAQ:GLPG) saw unusually-strong trading volume on Thursday . Approximately 192,635 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 151,020 shares.The stock last traded at $26.34 and had previously closed at $26.65.

Analysts Set New Price Targets

A number of brokerages have weighed in on GLPG. Royal Bank of Canada cut their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Leerink Partners started coverage on shares of Galapagos in a report on Monday, September 9th. They issued a “market perform” rating and a $24.00 price objective for the company. Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Finally, Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Galapagos presently has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Price Performance

The firm’s fifty day moving average price is $27.71 and its two-hundred day moving average price is $27.36.

Hedge Funds Weigh In On Galapagos

A number of institutional investors have recently added to or reduced their stakes in the business. Creative Planning bought a new position in shares of Galapagos in the 2nd quarter worth $456,000. Crossmark Global Holdings Inc. purchased a new position in Galapagos in the third quarter worth $1,077,000. Signaturefd LLC increased its stake in Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after acquiring an additional 2,541 shares during the last quarter. Headlands Technologies LLC raised its position in Galapagos by 56.7% during the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 446 shares in the last quarter. Finally, Stonepine Capital Management LLC lifted its stake in 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 purchasing an additional 91,366 shares during the last quarter. 32.46% of the stock is currently owned by institutional investors.

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.