Galapagos (NASDAQ:GLPG) Shares Pass Below 200-Day Moving Average - Here's What Happened

Key Points

• Shares slipped below the 200‑day moving average, trading as low as $28.30 and last at $28.60 versus the 200‑day average of $32.14 on volume of about 102,892 shares.
• Mixed analyst outlook: the consensus rating is "Hold" with an average price target of $36.50 (one Strong Buy, five Holds, one Sell), while some firms have recently upgraded the stock and RBC raised its price target to $33.
• Fundamentals and ownership: the company reported quarterly EPS of $13.92 and revenue of $1.06B, yet analysts expect -6.97 EPS for the current year; market cap is about $1.88B and roughly 32.5% of shares are held by institutions.

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $32.14 and traded as low as $28.30. Galapagos shares last traded at $28.60, with a volume of 102,892 shares trading hands.

Wall Street Analysts Forecast Growth

GLPG has been the topic of a number of analyst reports. 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. UBS Group reaffirmed a "market perform" rating on shares of Galapagos in a research report on Tuesday, February 24th. Wall Street Zen raised Galapagos from a "hold" rating to a "buy" rating in a research report on Saturday, March 28th. Finally, Royal Bank Of Canada lifted their price objective on Galapagos from $32.00 to $33.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 24th. One equities research 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 stock. According to MarketBeat.com, Galapagos has an average rating of "Hold" and a consensus price target of $36.50.

Galapagos Stock Performance

The stock has a 50-day moving average price of $31.29 and a two-hundred day moving average price of $32.14. The stock has a market capitalization of $1.88 billion, a PE ratio of -18.22 and a beta of 0.32.

Galapagos (NASDAQ:GLPG - Get Free Report) last posted its quarterly earnings results on Sunday, February 15th. The biotechnology company reported $13.92 EPS for the quarter. The business had revenue of $1.06 billion during the quarter. As a group, equities analysts predict that Galapagos NV will post -6.97 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GLPG. Jane Street Group LLC lifted its holdings in Galapagos by 2,245.7% in the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company's stock worth $2,783,000 after purchasing an additional 115,946 shares in the last quarter. Geode Capital Management LLC purchased a new position in Galapagos in the 2nd quarter worth approximately $220,000. Jump Financial LLC purchased a new position in Galapagos in the 2nd quarter worth approximately $692,000. Boothbay Fund Management LLC purchased a new position in Galapagos in the 2nd quarter worth approximately $612,000. Finally, Engineers Gate Manager LP purchased a new position in Galapagos in the 2nd quarter worth approximately $560,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Company Profile

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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