Morgan Stanley cut shares of Galapagos (NASDAQ:GLPG – Get Rating) from an overweight rating to an equal weight rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $61.00 price target on the biotechnology company's stock, down from their prior price target of $80.00.
A number of other equities research analysts have also recently weighed in on GLPG. Royal Bank of Canada dropped their price target on shares of Galapagos from $62.00 to $55.00 in a research report on Monday, August 8th. UBS Group lifted their price objective on shares of Galapagos from €52.00 ($53.06) to €70.00 ($71.43) and gave the company a neutral rating in a report on Thursday, May 12th. JPMorgan Chase & Co. lifted their price objective on shares of Galapagos from €60.00 ($61.22) to €65.00 ($66.33) and gave the company a neutral rating in a report on Thursday, May 12th. Finally, Jefferies Financial Group cut shares of Galapagos from a hold rating to an underperform rating in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $62.75.
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Galapagos Trading Up 8.0 %
Shares of GLPG opened at $51.99 on Friday. Galapagos has a 1-year low of $46.41 and a 1-year high of $72.11. The firm has a 50-day simple moving average of $52.71 and a two-hundred day simple moving average of $57.46.
Galapagos (NASDAQ:GLPG – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.79) by $0.48. Galapagos had a negative net
margin of 16.90% and a negative return on equity of 3.02%. The business had revenue of $146.62 million during the quarter, compared to analysts' expectations of $95.44 million. As a group, research analysts expect that Galapagos will post -3.23 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Calamos Advisors LLC acquired a new position in Galapagos during the 1st quarter worth approximately $655,000. Bank of America Corp DE grew its holdings in Galapagos by 346.2% during the 4th quarter. Bank of America Corp DE now owns 39,012 shares of the biotechnology company's stock worth $2,151,000 after acquiring an additional 30,269 shares in the last quarter. Prelude Capital Management LLC grew its holdings in Galapagos by 32.2% during the 1st quarter. Prelude Capital Management LLC now owns 29,760 shares of the biotechnology company's stock worth $1,846,000 after acquiring an additional 7,255 shares in the last quarter. Great Point Partners LLC grew its holdings in Galapagos by 20.0% during the 1st quarter. Great Point Partners LLC now owns 360,000 shares of the biotechnology company's stock worth $22,327,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Galapagos by 11.2% during the 4th quarter. Renaissance Technologies LLC now owns 56,600 shares of the biotechnology company's stock worth $3,120,000 after acquiring an additional 5,700 shares in the last quarter. Institutional investors and hedge funds own 19.48% of the company's stock.
Galapagos Company Profile
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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, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis.
Further Reading
- Get a free copy of the StockNews.com research report on Galapagos (GLPG)
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