Analysts Set Galapagos NV (NASDAQ:GLPG) PT at $36.50

Galapagos NV (NASDAQ:GLPG) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $36.50.

A number of equities research analysts have recently issued reports on GLPG shares. Wall Street Zen upgraded Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Sanford C. Bernstein started coverage on Galapagos in a research report on Wednesday, November 26th. They set a “hold” rating on the stock. Royal Bank Of Canada upped their price target on Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 24th. Weiss Ratings raised shares of Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research report on Thursday, February 26th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Galapagos in a research note on Tuesday, February 24th.

Institutional Investors Weigh In On Galapagos

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of Galapagos by 2,490.1% during the third quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock worth $49,083,000 after acquiring an additional 1,362,229 shares during the last quarter. EcoR1 Capital LLC boosted its holdings in Galapagos by 569.0% in the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock valued at $29,024,000 after purchasing an additional 881,939 shares during the last quarter. UBS Group AG grew its stake in Galapagos by 128.4% during the 4th quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock valued at $11,427,000 after purchasing an additional 196,445 shares in the last quarter. Millennium Management LLC grew its stake in Galapagos by 121.9% during the 4th quarter. Millennium Management LLC now owns 339,354 shares of the biotechnology company’s stock valued at $11,097,000 after purchasing an additional 186,452 shares in the last quarter. Finally, Norges Bank purchased a new stake in Galapagos during the 2nd quarter worth approximately $3,359,000. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Galapagos Price Performance

NASDAQ:GLPG opened at $32.01 on Friday. The business’s 50-day moving average is $33.60 and its two-hundred day moving average is $32.85. Galapagos has a 12 month low of $22.59 and a 12 month high of $37.78. The firm has a market capitalization of $2.11 billion, a PE ratio of -20.39 and a beta of 0.26.

About Galapagos

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.