Barclays Upgrades Galapagos (NASDAQ:GLPG) to “Overweight”


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Galapagos (NASDAQ:GLPG) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, Price Targets.com reports.

A number of other equities research analysts have also commented on the stock. UBS Group reaffirmed a “neutral” rating on shares of Galapagos in a research note on Monday. Bank of America raised shares of Galapagos from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $93.00 to $94.00 in a research note on Tuesday, February 23rd. Morgan Stanley reduced their price objective on shares of Galapagos from $129.00 to $117.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 17th. Raymond James raised shares of Galapagos from a “market perform” rating to an “outperform” rating and set a $100.00 price objective on the stock in a research note on Thursday, February 25th. Finally, Maxim Group lowered shares of Galapagos from a “buy” rating to a “hold” rating in a research note on Wednesday, February 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $150.08.

Shares of NASDAQ GLPG opened at $79.39 on Wednesday. Galapagos has a 52-week low of $74.51 and a 52-week high of $233.14. The firm has a 50 day moving average price of $80.60 and a two-hundred day moving average price of $105.88. The stock has a market cap of $5.20 billion, a P/E ratio of -12.03 and a beta of 0.76.

Hedge funds have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Galapagos in the third quarter valued at about $1,548,000. Wells Fargo & Company MN raised its holdings in shares of Galapagos by 17.0% in the fourth quarter. Wells Fargo & Company MN now owns 57,018 shares of the biotechnology company’s stock valued at $5,643,000 after purchasing an additional 8,287 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in shares of Galapagos by 86.0% in the third quarter. Voloridge Investment Management LLC now owns 11,342 shares of the biotechnology company’s stock valued at $1,610,000 after purchasing an additional 5,244 shares during the last quarter. Lumina Fund Management LLC purchased a new stake in Galapagos during the fourth quarter worth about $297,000. Finally, FDx Advisors Inc. increased its holdings in Galapagos by 26.2% during the fourth quarter. FDx Advisors Inc. now owns 4,157 shares of the biotechnology company’s stock worth $411,000 after buying an additional 863 shares during the last quarter. Institutional investors own 11.17% of the company’s stock.

About Galapagos

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes various small molecule medicines. Its clinical stage programs include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, and psoriatic arthritis.

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Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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