Zacks Investment Research upgraded shares of Galapagos (NASDAQ:GLPG) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
A number of other analysts have also recently weighed in on GLPG. Royal Bank of Canada started coverage on Galapagos in a research report on Thursday, September 14th. They issued a sector perform rating and a $98.00 price target on the stock. Stifel Nicolaus upped their price target on Galapagos from $101.00 to $120.00 and gave the company a buy rating in a research report on Friday, September 15th. Morgan Stanley reiterated an overweight rating and issued a $123.00 price target (up from $92.00) on shares of Galapagos in a research report on Friday, October 6th. BTIG Research reiterated a buy rating and issued a $118.00 price target on shares of Galapagos in a research report on Monday, November 20th. Finally, ValuEngine cut Galapagos from a hold rating to a sell rating in a research report on Friday, December 1st. 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’s stock. The company presently has an average rating of Hold and a consensus price target of $111.00.
Several hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new stake in shares of Galapagos during the third quarter worth $281,000. Orbimed Advisors LLC boosted its holdings in Galapagos by 84.8% in the third quarter. Orbimed Advisors LLC now owns 523,790 shares of the biotechnology company’s stock valued at $53,296,000 after acquiring an additional 240,290 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Galapagos by 156.6% in the third quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock valued at $177,000 after acquiring an additional 1,063 shares during the last quarter. Citadel Advisors LLC boosted its holdings in Galapagos by 27.1% in the third quarter. Citadel Advisors LLC now owns 14,179 shares of the biotechnology company’s stock valued at $1,443,000 after acquiring an additional 3,024 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Galapagos in the third quarter valued at about $3,072,000. Institutional investors own 19.68% of the company’s stock.
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Galapagos Company Profile
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.
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