Galapagos NV (NASDAQ:GLPG) Receives Consensus Recommendation of "Reduce" from Analysts

Galapagos NV (NASDAQ:GLPG - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $25.33.

A number of research analysts have issued reports on GLPG shares. Morgan Stanley cut Galapagos from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $31.00 to $22.00 in a research note on Friday, February 14th. Wall Street Zen lowered shares of Galapagos from a "hold" rating to a "sell" rating in a research note on Friday, April 25th.

Galapagos Stock Up 1.8%

NASDAQ GLPG traded up $0.52 during trading on Thursday, reaching $28.87. 146,278 shares of the stock traded hands, compared to its average volume of 244,185. Galapagos has a fifty-two week low of $22.36 and a fifty-two week high of $31.23. The stock's 50-day moving average price is $26.60 and its 200 day moving average price is $26.09.

Galapagos (NASDAQ:GLPG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($2.24). The firm had revenue of $97.33 million for the quarter, compared to the consensus estimate of $72.22 million. Analysts expect that Galapagos will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its stake in shares of Galapagos by 45.9% during the 4th quarter. BNP Paribas Financial Markets now owns 8,972 shares of the biotechnology company's stock worth $247,000 after purchasing an additional 2,824 shares in the last quarter. Gilead Sciences Inc. bought a new stake in Galapagos during the fourth quarter worth $461,727,000. American Century Companies Inc. lifted its stake in Galapagos by 5.9% in the fourth quarter. American Century Companies Inc. now owns 25,852 shares of the biotechnology company's stock valued at $711,000 after acquiring an additional 1,431 shares during the last quarter. XTX Topco Ltd grew its position in shares of Galapagos by 137.8% in the 4th quarter. XTX Topco Ltd now owns 19,833 shares of the biotechnology company's stock valued at $545,000 after acquiring an additional 11,492 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Galapagos by 19.6% during the 4th quarter. Bank of America Corp DE now owns 22,454 shares of the biotechnology company's stock worth $617,000 after purchasing an additional 3,684 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.