Galapagos (NASDAQ:GLPG) Reaches New 52-Week Low at $29.45

Shares of Galapagos NV (NASDAQ:GLPG) reached a new 52-week low on Tuesday . The company traded as low as $29.45 and last traded at $29.49, with a volume of 16106 shares. The stock had previously closed at $29.80.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLPG. Bank of America reaffirmed an “underperform” rating and set a $31.00 price target (down from $41.00) on shares of Galapagos in a research note on Thursday, March 28th. Morgan Stanley began coverage on Galapagos in a research note on Thursday, March 7th. They set an “equal weight” rating and a $38.00 price target on the stock. Finally, StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Galapagos has a consensus rating of “Hold” and an average target price of $34.50.

Galapagos Stock Down 0.9 %

The stock has a market capitalization of $1.93 billion, a PE ratio of -12.76 and a beta of 0.24. The firm has a 50 day moving average price of $34.54 and a 200 day moving average price of $36.50.

Institutional Trading of Galapagos

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in shares of Galapagos by 0.7% in 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. lifted its holdings 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 acquiring an additional 165,068 shares during the period. Stonepine Capital Management LLC lifted its holdings 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 acquiring an additional 119,880 shares during the period. Primecap Management Co. CA lifted its holdings in Galapagos by 1.4% during the fourth quarter. Primecap Management Co. CA now owns 678,877 shares of the biotechnology company’s stock worth $27,596,000 after acquiring an additional 9,200 shares during the period. Finally, BlackRock Inc. lifted its holdings 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 acquiring an additional 164,912 shares during the period. 32.46% of the stock is owned by hedge funds and other institutional investors.

About Galapagos

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.