Stonepine Capital Management LLC Sells 540,674 Shares of Galapagos NV (NASDAQ:GLPG)

Stonepine Capital Management LLC cut its holdings in shares of Galapagos NV (NASDAQ:GLPG - Free Report) by 67.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,870 shares of the biotechnology company's stock after selling 540,674 shares during the quarter. Galapagos comprises 4.6% of Stonepine Capital Management LLC's portfolio, making the stock its 7th biggest holding. Stonepine Capital Management LLC owned 0.40% of Galapagos worth $10,645,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GLPG. Acadian Asset Management LLC acquired a new position in Galapagos in the 1st quarter valued at $25,000. BNP Paribas Financial Markets grew its holdings in Galapagos by 96.4% in the 4th 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 in the last quarter. US Bancorp DE grew its holdings in Galapagos by 157.4% in the 4th quarter. US Bancorp DE now owns 821 shares of the biotechnology company's stock valued at $33,000 after buying an additional 502 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Galapagos by 147.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company's stock valued at $49,000 after buying an additional 676 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Galapagos in the 4th quarter valued at $44,000. 32.46% of the stock is owned by institutional investors and hedge funds.

Galapagos Price Performance

Shares of GLPG stock traded down $0.21 on Tuesday, hitting $31.65. 80,377 shares of the company's stock were exchanged, compared to its average volume of 120,178. Galapagos NV has a 12 month low of $31.57 and a 12 month high of $45.21. The stock has a market cap of $2.09 billion, a P/E ratio of -13.82 and a beta of 0.25. The company has a 50 day moving average of $35.49 and a 200 day moving average of $36.70.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com lowered Galapagos from a "buy" rating to a "hold" rating in a report on Monday, March 18th. Morgan Stanley started coverage on Galapagos in a report on Thursday, March 7th. They issued an "equal weight" rating and a $38.00 price objective on the stock. Finally, Bank of America reiterated an "underperform" rating and set a $31.00 target price (down from $41.00) on shares of Galapagos in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Galapagos presently has a consensus rating of "Hold" and a consensus target price of $34.50.

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.

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