Galapagos’ (GLPG) “Underweight” Rating Reaffirmed at Barclays

Galapagos (NASDAQ:GLPG)‘s stock had its “underweight” rating restated by investment analysts at Barclays in a research note issued on Thursday,Benzinga reports.

Other research analysts also recently issued research reports about the company. TD Cowen downgraded Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Royal Bank of Canada reduced their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Finally, Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Price Performance

Shares of GLPG stock opened at $23.93 on Thursday. The company’s fifty day simple moving average is $26.70 and its two-hundred day simple moving average is $27.45. Galapagos has a 1 year low of $23.49 and a 1 year high of $40.34.

Institutional Trading of Galapagos

A number of hedge funds have recently made changes to their positions in GLPG. Rhumbline Advisers raised its position in Galapagos by 21.6% during the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 814 shares in the last quarter. Renaissance Technologies LLC lifted its position in Galapagos by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after buying an additional 4,300 shares during the last quarter. XTX Topco Ltd bought a new stake in Galapagos in the 2nd quarter worth approximately $284,000. Marshall Wace LLP bought a new position in Galapagos during the second quarter valued at approximately $315,000. Finally, DME Capital Management LP grew its position in Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after acquiring an additional 75,000 shares during the last quarter. 32.46% of the stock is owned by institutional investors.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.