Galapagos NV (NASDAQ:GLPG – Get Rating) shares gapped up prior to trading on Monday . The stock had previously closed at $48.16, but opened at $50.65. Galapagos shares last traded at $51.65, with a volume of 1,778 shares trading hands.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Jefferies Financial Group cut shares of Galapagos from a "hold" rating to an "underperform" rating in a research report on Monday, July 25th. Morgan Stanley cut shares of Galapagos from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $80.00 to $61.00 in a report on Friday, September 9th. Finally, Royal Bank of Canada decreased their price objective on shares of Galapagos from $62.00 to $55.00 in a report on Monday, August 8th. 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $62.75.
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Galapagos Stock Down 5.4 %
The stock's 50 day simple moving average is $52.54 and its two-hundred day simple moving average is $57.40.
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 firm had revenue of $146.62 million for the quarter, compared to analyst estimates of $95.44 million. On average, equities research analysts expect that Galapagos NV will post -3.23 EPS for the current year.
Institutional Trading of Galapagos
A number of institutional investors have recently made changes to their positions in the business. International Biotechnology Trust PLC bought a new stake in shares of Galapagos in the second quarter worth $123,000. Driehaus Capital Management LLC lifted its position in shares of Galapagos by 6.9% in the second quarter. Driehaus Capital Management LLC now owns 510,649 shares of the biotechnology company's stock worth $28,494,000 after purchasing an additional 33,034 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Galapagos by 100.0% in the second quarter. Quantbot Technologies LP now owns 1,400 shares of the biotechnology company's stock worth $78,000 after purchasing an additional 700 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Galapagos by 193.8% in the second quarter. Renaissance Technologies LLC now owns 248,300 shares of the biotechnology company's stock worth $13,855,000 after purchasing an additional 163,800 shares in the last quarter. Finally, Hudson Bay Capital Management LP lifted its position in shares of Galapagos by 566.2% in the second quarter. Hudson Bay Capital Management LP now owns 216,500 shares of the biotechnology company's stock worth $12,081,000 after purchasing an additional 184,000 shares in the last quarter. Institutional investors own 19.48% of the company's stock.
About Galapagos
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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.
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