Galapagos (GLPG) Downgraded by ValuEngine

ValuEngine downgraded shares of Galapagos (NASDAQ:GLPG) from a hold rating to a sell rating in a research report released on Friday.

Other equities analysts also recently issued research reports about the stock. Cowen reissued a buy rating on shares of Galapagos in a research note on Thursday, August 10th. Nomura increased their price objective on shares of Galapagos from $108.00 to $124.00 and gave the company a buy rating in a research note on Friday, August 11th. Stifel Nicolaus raised shares of Galapagos from a hold rating to a buy rating and increased their price objective for the company from $83.00 to $101.00 in a research note on Friday, August 11th. BTIG Research reissued a buy rating and issued a $118.00 price objective on shares of Galapagos in a research note on Monday, November 20th. Finally, BidaskClub raised shares of Galapagos from a sell rating to a hold rating in a research note on Thursday, August 17th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $111.00.

Shares of Galapagos (NASDAQ:GLPG) traded down $0.66 during trading hours on Friday, reaching $86.59. 41,267 shares of the company traded hands, compared to its average volume of 150,622. Galapagos has a fifty-two week low of $57.86 and a fifty-two week high of $104.12.

Hedge funds have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in shares of Galapagos during the third quarter valued at $105,000. New York State Common Retirement Fund bought a new position in shares of Galapagos during the second quarter valued at $166,000. Acadian Asset Management LLC bought a new position in Galapagos during the second quarter worth $166,000. Pacad Investment Ltd. bought a new position in Galapagos during the second quarter worth $168,000. Finally, Envestnet Asset Management Inc. raised its stake in Galapagos by 156.6% during the third quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock worth $177,000 after buying an additional 1,063 shares during the last quarter. 19.71% of the stock is owned by hedge funds and other institutional investors.

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About Galapagos

Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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