Galapagos NV (GLPG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Galapagos NV (NASDAQ:GLPG) have been given an average rating of “Buy” by the eleven analysts that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $115.17.

Several research analysts have recently weighed in on the company. BidaskClub cut Galapagos from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Cowen Inc reaffirmed a “buy” rating on shares of Galapagos in a research report on Thursday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $92.00 price objective on shares of Galapagos in a research report on Thursday, August 10th. Stifel Nicolaus raised Galapagos from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $101.00 in a research report on Friday, August 11th. Finally, Nomura upped their price objective on Galapagos from $108.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, August 11th.

Galapagos (NASDAQ GLPG) traded up $0.28 during midday trading on Friday, reaching $92.23. The company had a trading volume of 35,122 shares, compared to its average volume of 86,342. Galapagos has a fifty-two week low of $57.16 and a fifty-two week high of $104.12.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Preferred LLC bought a new stake in Galapagos in the third quarter valued at approximately $105,000. Acadian Asset Management LLC bought a new stake in Galapagos in the second quarter valued at approximately $166,000. New York State Common Retirement Fund bought a new stake in Galapagos in the second quarter valued at approximately $166,000. Pacad Investment Ltd. bought a new stake in Galapagos in the second quarter valued at approximately $168,000. Finally, Envestnet Asset Management Inc. raised its stake in Galapagos by 156.6% in the third quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 1,063 shares during the period. 21.42% of the stock is owned by hedge funds and other institutional investors.

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About Galapagos

Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.

Analyst Recommendations for Galapagos (NASDAQ:GLPG)

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