StockNews.com Upgrades Galapagos (NASDAQ:GLPG) to Buy

Galapagos (NASDAQ:GLPGGet Free Report) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Bank of America boosted their price objective on Galapagos from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, January 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Galapagos has an average rating of “Hold” and a consensus target price of $42.33.

Check Out Our Latest Report on GLPG

Galapagos Stock Performance

Shares of Galapagos stock opened at $38.96 on Monday. Galapagos has a one year low of $31.86 and a one year high of $45.21. The company has a market cap of $2.57 billion, a PE ratio of -17.01 and a beta of 0.27. The business has a 50-day simple moving average of $39.29 and a 200-day simple moving average of $37.76.

Hedge Funds Weigh In On Galapagos

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its position in Galapagos by 0.7% during the third quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after purchasing an additional 28,497 shares during the last quarter. Point72 Asset Management L.P. increased its position in Galapagos by 23.1% during the second quarter. Point72 Asset Management L.P. now owns 880,668 shares of the biotechnology company’s stock worth $35,808,000 after purchasing an additional 165,068 shares during the last quarter. Stonepine Capital Management LLC increased its position in Galapagos by 17.6% during the third quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock worth $27,728,000 after purchasing an additional 119,880 shares during the last quarter. Primecap Management Co. CA increased its position in Galapagos by 0.5% during the third quarter. Primecap Management Co. CA now owns 669,677 shares of the biotechnology company’s stock worth $23,137,000 after purchasing an additional 3,300 shares during the last quarter. Finally, BlackRock Inc. increased its position in Galapagos by 46.8% during the first quarter. BlackRock Inc. now owns 517,611 shares of the biotechnology company’s stock worth $32,103,000 after purchasing an additional 164,912 shares during the last quarter. Hedge funds and other institutional investors own 29.73% of the company’s stock.

About Galapagos

(Get Free Report)

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, ankylosing spondylitis, psoriatic arthritis, and uveitis.

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Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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