Galapagos NV (NASDAQ:GLPG – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $28.59, but opened at $26.94. Galapagos shares last traded at $26.69, with a volume of 99,850 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on GLPG shares. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Leerink Partners started coverage on shares of Galapagos in a research report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price on the stock. Finally, Raymond James lowered shares of Galapagos from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.
View Our Latest Report on GLPG
Galapagos Stock Down 5.6 %
Institutional Investors Weigh In On Galapagos
Several institutional investors and hedge funds have recently made changes to their positions in GLPG. Stonepine Capital Management LLC boosted its position in shares of Galapagos by 23.2% in the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after buying an additional 91,366 shares in the last quarter. DME Capital Management LP boosted its position in shares of Galapagos by 46.9% in the 2nd quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock worth $5,819,000 after buying an additional 75,000 shares in the last quarter. Creative Planning purchased a new stake in shares of Galapagos in the 2nd quarter worth about $456,000. Millennium Management LLC raised its stake in Galapagos by 5.3% in the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after purchasing an additional 17,089 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Galapagos in the 2nd quarter valued at about $315,000. 32.46% of the stock is currently owned by hedge funds and other 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.
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