Galapagos (NASDAQ:GLPG) Sees Large Volume Increase - Still a Buy?

Key Points

• Trading volume jumped 34% to 153,329 shares, and the stock last traded at $30.63 below the prior close of $31.90, signaling increased activity despite a pullback in price.
• Wall Street's consensus rating is "Hold" with an average price target of $36.50; analyst coverage is mixed (1 Strong Buy, 5 Hold, 1 Sell).
• Galapagos has a market cap of $2.01 billion and a negative PE (-19.40); its 50-day and 200-day moving averages are about $33.57 and $32.88, and institutional investors own roughly 32.46% of the stock with several funds recently adding to positions.

Galapagos NV (NASDAQ:GLPG - Get Free Report) saw an uptick in trading volume on Tuesday . 153,329 shares were traded during mid-day trading, an increase of 34% from the previous session's volume of 114,737 shares.The stock last traded at $30.6340 and had previously closed at $31.90.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GLPG. Wall Street Zen upgraded shares of Galapagos from a "sell" rating to a "hold" rating in a report on Tuesday, December 30th. UBS Group restated a "market perform" rating on shares of Galapagos in a research note on Tuesday, February 24th. Weiss Ratings raised Galapagos from a "sell (d)" rating to a "hold (c)" rating in a research report on Thursday, February 26th. Raymond James Financial reaffirmed a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. Finally, Sanford C. Bernstein assumed coverage on Galapagos in a research note on Wednesday, November 26th. They set a "hold" rating on the stock. One analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.50.

Galapagos Price Performance

The stock has a market cap of $2.01 billion, a PE ratio of -19.40 and a beta of 0.26. The company's fifty day moving average is $33.57 and its 200-day moving average is $32.88.

Institutional Trading of Galapagos

Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming acquired a new position in Galapagos in the second quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in shares of Galapagos by 79.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company's stock valued at $51,000 after purchasing an additional 652 shares during the period. Van ECK Associates Corp boosted its holdings in Galapagos by 61.6% during the fourth quarter. Van ECK Associates Corp now owns 1,968 shares of the biotechnology company's stock worth $64,000 after buying an additional 750 shares in the last quarter. Arax Advisory Partners grew its position in Galapagos by 319.2% during the fourth quarter. Arax Advisory Partners now owns 2,335 shares of the biotechnology company's stock valued at $76,000 after buying an additional 1,778 shares during the period. Finally, Quadrant Capital Group LLC acquired a new stake in Galapagos during the third quarter valued at $134,000. 32.46% of the stock is owned by institutional investors and hedge funds.

About Galapagos

Galapagos NV NASDAQ: GLPG is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company's discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company's pipeline encompasses multiple programs across various stages of development.

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