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GALAPAGOS NV/S (NASDAQ:GLPG) Downgraded to "Hold" at Zacks Investment Research

Last updated on Wednesday, July 8, 2020 | 2020 MarketBeat

GALAPAGOS NV/S (NASDAQ:GLPG) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, "Galapagos NV is a biotechnology company. The Company's operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. "

Several other analysts also recently issued reports on GLPG. Jefferies Financial Group raised GALAPAGOS NV/S from a "hold" rating to a "buy" rating and set a $232.00 price target on the stock in a report on Monday, March 30th. HC Wainwright lowered their target price on GALAPAGOS NV/S from $302.00 to $270.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. TheStreet cut GALAPAGOS NV/S from a "b" rating to a "c" rating in a research report on Wednesday, May 6th. BidaskClub cut GALAPAGOS NV/S from a "buy" rating to a "hold" rating in a research report on Thursday, July 2nd. Finally, Royal Bank of Canada restated a "hold" rating and issued a $155.00 target price on shares of GALAPAGOS NV/S in a research report on Monday, April 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company's stock. GALAPAGOS NV/S has a consensus rating of "Hold" and a consensus price target of $228.31.

Shares of NASDAQ GLPG traded down $0.58 during mid-day trading on Wednesday, hitting $201.97. The company had a trading volume of 98,100 shares, compared to its average volume of 160,542. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 79.52 and a beta of 1.19. GALAPAGOS NV/S has a 12 month low of $112.00 and a 12 month high of $274.03. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.28 and a quick ratio of 9.28. The firm's 50 day simple moving average is $202.22 and its two-hundred day simple moving average is $211.06.

GALAPAGOS NV/S (NASDAQ:GLPG) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.95) by $0.09. The business had revenue of $117.93 million for the quarter, compared to the consensus estimate of $121.39 million. GALAPAGOS NV/S had a return on equity of 12.45% and a net margin of 15.42%. Equities analysts forecast that GALAPAGOS NV/S will post -1.06 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC grew its holdings in shares of GALAPAGOS NV/S by 61.2% in the 1st quarter. Acadian Asset Management LLC now owns 74,126 shares of the biotechnology company's stock worth $14,523,000 after acquiring an additional 28,146 shares during the last quarter. Morgan Stanley grew its holdings in shares of GALAPAGOS NV/S by 68.0% in the 1st quarter. Morgan Stanley now owns 121,181 shares of the biotechnology company's stock worth $23,742,000 after acquiring an additional 49,053 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of GALAPAGOS NV/S by 6.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,566 shares of the biotechnology company's stock worth $3,220,000 after acquiring an additional 920 shares during the last quarter. Parametric Portfolio Associates LLC acquired a new position in shares of GALAPAGOS NV/S in the 1st quarter worth $2,323,000. Finally, United Capital Financial Advisers LLC acquired a new stake in shares of GALAPAGOS NV/S in the first quarter worth $5,359,000. Institutional investors and hedge funds own 11.71% of the company's stock.

GALAPAGOS NV/S Company Profile

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes novel medicines. Its clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis and Crohn's disease, Phase 2/3 trials for ulcerative colitis, and Phase II trials for multiple additional indications; GLPG1690, an autotaxin inhibitor, which is in Phase III clinical trial for the treatment of idiopathic pulmonary fibrosis; GLPG1972 that completed Phase 1b clinical trial for the treatment of osteoarthritis; and MOR106, which is in Phase II trials for atopic dermatitis patients.

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