Galapagos (NASDAQ:GLPG) Downgraded to “Reduce” Rating by Kepler Capital Markets

Kepler Capital Markets lowered shares of Galapagos (NASDAQ:GLPG) from a hold rating to a reduce rating in a research report released on Wednesday morning, MarketBeat Ratings reports.

Several other equities analysts have also commented on the company. Leerink Partnrs raised Galapagos to a “hold” rating in a report on Monday, September 9th. Raymond James downgraded Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Royal Bank of Canada decreased their target price on 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, Leerink Partners began coverage on shares of Galapagos in a research note on Monday, September 9th. They issued a “market perform” rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Stock Down 3.9 %

Shares of GLPG opened at $25.64 on Wednesday. The firm’s 50 day moving average price is $28.76 and its 200 day moving average price is $27.54. Galapagos has a fifty-two week low of $24.16 and a fifty-two week high of $42.46.

Institutional Investors Weigh In On Galapagos

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC boosted its stake in Galapagos by 56.7% during the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 446 shares during the period. GAMMA Investing LLC lifted its stake in shares of Galapagos by 140.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 736 shares during the period. Rhumbline Advisers boosted its holdings in shares of Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock valued at $113,000 after acquiring an additional 814 shares in the last quarter. Signaturefd LLC increased its stake in shares of Galapagos by 48.1% during the second quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 1,258 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Galapagos by 63.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock worth $112,000 after purchasing an additional 1,510 shares in the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

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.