Galapagos (NASDAQ:GLPG) Receives Underweight Rating from Barclays

Galapagos (NASDAQ:GLPG)‘s stock had its “underweight” rating reissued by equities researchers at Barclays in a report issued on Thursday,Benzinga reports.

GLPG has been the subject of a number of other reports. TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, January 9th. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada cut their target price on Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Four investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.75.

Galapagos Stock Performance

GLPG opened at $23.93 on Thursday. Galapagos has a 1 year low of $23.49 and a 1 year high of $40.34. The stock’s 50 day simple moving average is $26.70 and its 200 day simple moving average is $27.45.

Hedge Funds Weigh In On Galapagos

A number of institutional investors have recently bought and sold shares of GLPG. R Squared Ltd bought a new stake in Galapagos during the 4th quarter valued at approximately $26,000. GAMMA Investing LLC boosted its position in shares of Galapagos by 140.7% during the third quarter. GAMMA Investing LLC now owns 1,259 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 736 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Galapagos by 63.2% in 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 during the period. Rhumbline Advisers grew its stake in Galapagos by 21.6% in the second quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 814 shares during the period. Finally, Signaturefd LLC raised its holdings in Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares in the last quarter. 32.46% of the stock is owned by institutional investors.

Galapagos Company Profile

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.