Brokerages Set Galapagos NV (NASDAQ:GLPG) PT at $34.50

Shares of Galapagos NV (NASDAQ:GLPG - Get Free Report) have been given a consensus recommendation of "Hold" by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $34.50.

A number of analysts recently issued reports on GLPG shares. StockNews.com downgraded shares of Galapagos from a "buy" rating to a "hold" rating in a report on Monday, March 18th. Morgan Stanley initiated coverage on shares of Galapagos in a report on Thursday, March 7th. They set an "equal weight" rating and a $38.00 price objective on the stock. Finally, Bank of America reaffirmed an "underperform" rating and set a $31.00 price objective (down from $41.00) on shares of Galapagos in a report on Thursday, March 28th.

Institutional Investors Weigh In On Galapagos

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in shares of Galapagos in the first quarter valued at about $25,000. BNP Paribas Financial Markets raised its position in shares of Galapagos by 96.4% in the fourth quarter. BNP Paribas Financial Markets now owns 603 shares of the biotechnology company's stock valued at $25,000 after buying an additional 296 shares during the last quarter. US Bancorp DE raised its position in shares of Galapagos by 157.4% in the fourth quarter. US Bancorp DE now owns 821 shares of the biotechnology company's stock valued at $33,000 after buying an additional 502 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Galapagos by 147.9% during the third quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 676 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Galapagos during the fourth quarter worth about $44,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

Galapagos Stock Performance

NASDAQ GLPG traded down $0.21 during mid-day trading on Tuesday, reaching $31.65. 80,377 shares of the stock were exchanged, compared to its average volume of 120,178. The business's 50 day moving average is $35.49 and its 200-day moving average is $36.70. Galapagos has a 1 year low of $31.57 and a 1 year high of $45.21. The company has a market capitalization of $2.09 billion, a P/E ratio of -13.82 and a beta of 0.25.

About Galapagos

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of?various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and uveitis.