Galapagos (NASDAQ:GLPG) Receives “Equal Weight” Rating from Morgan Stanley

Galapagos (NASDAQ:GLPG)‘s stock had its “equal weight” rating reissued by equities research analysts at Morgan Stanley in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $38.00 price target on the biotechnology company’s stock. Morgan Stanley’s price target indicates a potential upside of 29.03% from the stock’s current price.

GLPG has been the topic of several other research reports. StockNews.com lowered Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Bank of America reissued an “underperform” rating and set a $31.00 target price (down previously from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $34.50.

Galapagos Price Performance

GLPG stock opened at $29.45 on Monday. The firm has a market capitalization of $1.94 billion, a P/E ratio of -12.86 and a beta of 0.25. The business’s 50-day moving average is $33.91 and its two-hundred day moving average is $36.41. Galapagos has a 1 year low of $28.82 and a 1 year high of $45.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GLPG. Vestal Point Capital LP purchased a new position in shares of Galapagos in the 4th quarter valued at approximately $5,284,000. Stonepine Capital Management LLC grew its stake in shares of Galapagos by 17.6% in the 3rd quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock valued at $27,728,000 after purchasing an additional 119,880 shares during the last quarter. Citigroup Inc. grew its stake in shares of Galapagos by 7,243.0% in the 3rd quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock valued at $3,133,000 after purchasing an additional 89,451 shares during the last quarter. FMR LLC grew its stake in shares of Galapagos by 0.7% in the 3rd quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock valued at $149,176,000 after purchasing an additional 28,497 shares during the last quarter. Finally, Hudson Bay Capital Management LP grew its stake in shares of Galapagos by 7.7% in the 3rd quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock valued at $12,092,000 after purchasing an additional 25,000 shares during the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

Galapagos Company Profile

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.