Galapagos NV (GLPG) Trading Up 3.6% After Analyst Upgrade

Galapagos NV (NASDAQ:GLPG) shares were up 3.6% during mid-day trading on Friday after Nomura raised their price target on the stock from $108.00 to $124.00. Nomura currently has a buy rating on the stock. Galapagos NV traded as high as $84.68 and last traded at $84.00, with a volume of 240,919 shares traded. The stock had previously closed at $81.06.

Other research analysts also recently issued research reports about the stock. Cowen and Company reissued a “buy” rating on shares of Galapagos NV in a research note on Thursday. BTIG Research reissued a “buy” rating and issued a $98.00 target price on shares of Galapagos NV in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of Galapagos NV from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Friday, July 14th. Instinet reissued a “buy” rating and issued a $108.00 target price (down previously from $121.00) on shares of Galapagos NV in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus raised shares of Galapagos NV from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $101.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $96.14.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Galapagos NV by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 38,093 shares of the biotechnology company’s stock valued at $2,915,000 after buying an additional 173 shares during the last quarter. Bank of America Corp DE increased its position in shares of Galapagos NV by 18.8% in the first quarter. Bank of America Corp DE now owns 4,379 shares of the biotechnology company’s stock valued at $377,000 after buying an additional 694 shares during the last quarter. Bank of Montreal Can increased its position in shares of Galapagos NV by 45.5% in the second quarter. Bank of Montreal Can now owns 2,828 shares of the biotechnology company’s stock valued at $216,000 after buying an additional 884 shares during the last quarter. Aperio Group LLC increased its position in shares of Galapagos NV by 42.7% in the second quarter. Aperio Group LLC now owns 3,404 shares of the biotechnology company’s stock valued at $260,000 after buying an additional 1,018 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Galapagos NV during the first quarter valued at $161,000. 19.99% of the stock is owned by hedge funds and other institutional investors.

The stock’s market capitalization is $4.27 billion. The firm’s 50-day moving average is $77.64 and its 200 day moving average is $79.02.

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Galapagos NV 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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