Analysts Set Galapagos NV (NASDAQ:GLPG) PT at $30.75

Shares of Galapagos NV (NASDAQ:GLPG) have received an average recommendation of “Reduce” from the eight ratings firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $30.75.

A number of research firms have commented 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. Kepler Capital Markets lowered Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Finally, TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, January 9th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its stake in shares of Galapagos by 21.6% during the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares during the period. Headlands Technologies LLC boosted its position in shares of Galapagos by 56.7% in the second quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 446 shares during the period. Renaissance Technologies LLC increased its stake in shares of Galapagos by 1.6% in the second quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after purchasing an additional 4,300 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Galapagos by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock valued at $17,848,000 after purchasing an additional 5,000 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Galapagos during the 2nd quarter valued at $284,000. Institutional investors own 32.46% of the company’s stock.

Galapagos Stock Down 0.6 %

Shares of NASDAQ GLPG opened at $23.76 on Monday. The firm’s 50-day moving average price is $26.93 and its 200-day moving average price is $27.49. Galapagos has a 52-week low of $23.53 and a 52-week high of $40.34.

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.