Galapagos (NASDAQ:GLPG) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Galapagos (NASDAQ:GLPGGet Rating) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

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. “

A number of other research firms have also recently weighed in on GLPG. Morgan Stanley raised their price objective on shares of Galapagos from $77.00 to $80.00 and gave the stock an overweight rating in a report on Monday, February 28th. Bryan, Garnier & Co raised shares of Galapagos from a sell rating to a buy rating in a report on Friday, January 28th. Citigroup upgraded shares of Galapagos from a neutral rating to a buy rating in a research report on Thursday, January 27th. Finally, StockNews.com started coverage on shares of Galapagos in a research report on Thursday, March 31st. They set a hold rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $65.96.

GLPG stock opened at $62.20 on Tuesday. Galapagos has a twelve month low of $46.41 and a twelve month high of $81.12. The company’s 50 day moving average is $63.61 and its two-hundred day moving average is $58.39.

Large investors have recently bought and sold shares of the stock. Signaturefd LLC grew its position in Galapagos by 109.5% in the 4th quarter. Signaturefd LLC now owns 505 shares of the biotechnology company’s stock valued at $28,000 after buying an additional 264 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Galapagos in the 1st quarter valued at $34,000. Advisor Group Holdings Inc. grew its position in Galapagos by 61.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,226 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 467 shares during the last quarter. Royal Bank of Canada grew its position in Galapagos by 26.0% in the 3rd quarter. Royal Bank of Canada now owns 3,182 shares of the biotechnology company’s stock valued at $168,000 after buying an additional 657 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Galapagos by 51.8% in the 4th quarter. Geode Capital Management LLC now owns 6,112 shares of the biotechnology company’s stock valued at $336,000 after buying an additional 2,085 shares during the last quarter. Hedge funds and other institutional investors own 18.25% of the company’s stock.

Galapagos Company Profile (Get Rating)

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis.

Read More

Get a free copy of the Zacks research report on Galapagos (GLPG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Galapagos (NASDAQ:GLPG)

Want More Great Investing Ideas?

Receive News & Ratings for Galapagos Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Galapagos and related companies with MarketBeat.com's FREE daily email newsletter.