Galapagos (NASDAQ:GLPG) Shares Gap Up – Here’s Why

Galapagos NV (NASDAQ:GLPG) shares gapped up prior to trading on Friday . The stock had previously closed at $25.22, but opened at $26.00. Galapagos shares last traded at $26.24, with a volume of 61,015 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on GLPG shares. Royal Bank of Canada lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Leerink Partners began coverage on Galapagos in a research note on Monday, September 9th. They set a “market perform” rating and a $24.00 price target for the company. Raymond James lowered Galapagos from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday. Finally, Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, Galapagos has a consensus rating of “Hold” and a consensus price target of $30.75.

Galapagos Price Performance

The company has a 50-day moving average price of $28.76 and a 200-day moving average price of $27.54.

Institutional Investors Weigh In On Galapagos

A number of hedge funds and other institutional investors have recently made changes to their positions in GLPG. BNP Paribas Financial Markets increased its stake in Galapagos by 783.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,328 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 4,725 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Galapagos by 18.5% during the 1st quarter. Acadian Asset Management LLC now owns 15,186 shares of the biotechnology company’s stock worth $488,000 after purchasing an additional 2,366 shares in the last quarter. AlphaCentric Advisors LLC raised its stake in shares of Galapagos by 3.3% during the 2nd quarter. AlphaCentric Advisors LLC now owns 108,500 shares of the biotechnology company’s stock worth $2,689,000 after purchasing an additional 3,500 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Galapagos by 48.1% in the 2nd quarter. Signaturefd LLC now owns 3,872 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 1,258 shares during the last quarter. Finally, Rhumbline Advisers grew its stake 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 buying an additional 814 shares in the last quarter. 32.46% of the stock is currently owned by institutional investors and hedge funds.

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.