Galapagos (NASDAQ:GLPG) Sees Unusually-High Trading Volume – Should You Buy?

Galapagos NV (NASDAQ:GLPG) saw strong trading volume on Tuesday . 153,329 shares were traded during trading, an increase of 34% from the previous session’s volume of 114,737 shares.The stock last traded at $30.6340 and had previously closed at $31.90.

Analysts Set New Price Targets

GLPG has been the topic of several research reports. Weiss Ratings raised shares of Galapagos from a “sell (d)” rating to a “hold (c)” rating in a research note on Thursday, February 26th. Raymond James Financial reiterated a “market perform” rating on shares of Galapagos in a report on Tuesday, February 24th. Royal Bank Of Canada boosted their price target on Galapagos from $32.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded Galapagos from a “sell” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Sanford C. Bernstein began coverage on Galapagos in a research report on Wednesday, November 26th. They set a “hold” rating for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $36.50.

Galapagos Stock Performance

The company has a market capitalization of $2.02 billion, a PE ratio of -19.52 and a beta of 0.26. The company’s 50-day moving average is $33.43 and its 200 day moving average is $32.83.

Institutional Investors Weigh In On Galapagos

Institutional investors have recently made changes to their positions in the company. Madison Avenue Partners LP raised its holdings in Galapagos by 0.8% in the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock worth $72,371,000 after acquiring an additional 17,394 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Galapagos by 2,490.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,416,934 shares of the biotechnology company’s stock worth $49,083,000 after purchasing an additional 1,362,229 shares in the last quarter. EcoR1 Capital LLC raised its stake in shares of Galapagos by 569.0% in the second quarter. EcoR1 Capital LLC now owns 1,036,945 shares of the biotechnology company’s stock worth $29,024,000 after purchasing an additional 881,939 shares during the last quarter. UBS Group AG raised its stake in shares of Galapagos by 128.4% in the fourth quarter. UBS Group AG now owns 349,444 shares of the biotechnology company’s stock worth $11,427,000 after purchasing an additional 196,445 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Galapagos by 121.9% during the fourth 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. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.