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

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) have been assigned an average recommendation of "Reduce" from the eight research firms that are covering the stock, Marketbeat reports. Four equities 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 target among brokers that have covered the stock in the last year is $25.33.

GLPG has been the subject of a number of recent research reports. StockNews.com cut Galapagos from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Barclays reaffirmed an "underweight" rating on shares of Galapagos in a research report on Thursday, January 23rd. Finally, Morgan Stanley downgraded shares of Galapagos from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $31.00 to $22.00 in a research report on Friday, February 14th.

Institutional Investors Weigh In On Galapagos

Several institutional investors have recently modified their holdings of the business. 683 Capital Management LLC raised its position in Galapagos by 57.3% in the 1st quarter. 683 Capital Management LLC now owns 110,100 shares of the biotechnology company's stock worth $2,766,000 after buying an additional 40,100 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Galapagos by 11.1% in the first quarter. Vestal Point Capital LP now owns 200,000 shares of the biotechnology company's stock worth $5,024,000 after acquiring an additional 20,000 shares during the period. OLD Mission Capital LLC purchased a new position in shares of Galapagos during the first quarter valued at approximately $1,885,000. American Century Companies Inc. lifted its position in Galapagos by 7.7% during the first quarter. American Century Companies Inc. now owns 27,839 shares of the biotechnology company's stock valued at $699,000 after purchasing an additional 1,987 shares during the period. Finally, Tejara Capital Ltd bought a new position in Galapagos during the first quarter valued at approximately $1,351,000. 32.46% of the stock is owned by hedge funds and other institutional investors.

Galapagos Trading Up 3.3%

Shares of Galapagos stock opened at $27.75 on Friday. Galapagos has a 1 year low of $22.36 and a 1 year high of $31.23. The company has a 50-day moving average of $25.46 and a 200 day moving average of $25.87.

Galapagos (NASDAQ:GLPG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The biotechnology company reported ($2.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($2.24). The business had revenue of $97.33 million for the quarter, compared to analyst estimates of $72.22 million. Equities research analysts forecast that Galapagos will post -1.6 EPS for the current fiscal year.

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.

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