Zacks Investment Research upgraded shares of Galapagos NV (NASDAQ:GLPG) from a hold rating to a buy rating in a research report released on Monday morning. They currently have $74.00 price objective on the stock.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
Other equities research analysts have also issued research reports about the stock. Janney Montgomery Scott started coverage on shares of Galapagos NV in a research note on Tuesday, August 30th. They set a buy rating and a $64.00 price target for the company. Credit Suisse Group AG restated a hold rating and set a $48.00 price target on shares of Galapagos NV in a research note on Friday, June 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of €67.80 ($75.33).
Galapagos NV (NASDAQ:GLPG) opened at 63.03 on Monday. The firm’s market capitalization is $2.91 billion. Galapagos NV has a 12 month low of $37.03 and a 12 month high of $73.37. The firm’s 50-day moving average is $60.82 and its 200 day moving average is $53.65.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLPG. Fiera Capital Corp acquired a new position in Galapagos NV during the second quarter valued at approximately $302,000. Citadel Advisors LLC acquired a new position in Galapagos NV during the second quarter valued at approximately $347,000. Landscape Capital Management L.L.C. increased its position in Galapagos NV by 114.7% in the first quarter. Landscape Capital Management L.L.C. now owns 17,389 shares of the company’s stock valued at $727,000 after buying an additional 9,288 shares during the period. A.R.T. Advisors LLC acquired a new position in Galapagos NV during the first quarter valued at approximately $547,000. Finally, P.A.W. Capital Corp acquired a new position in Galapagos NV during the second quarter valued at approximately $1,109,000. 21.21% of the stock is owned by institutional investors.
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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