Galapagos (NASDAQ:GLPG) Downgraded to Market Perform at Raymond James

Raymond James lowered shares of Galapagos (NASDAQ:GLPG) from an outperform rating to a market perform rating in a research note released on Friday, Marketbeat reports.

Separately, Morgan Stanley reaffirmed an equal weight rating and issued a $38.00 price target on shares of Galapagos in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $34.50.

Galapagos Stock Performance

Shares of GLPG stock traded down $1.37 on Friday, reaching $25.52. 375,091 shares of the company’s stock traded hands, compared to its average volume of 101,994. Galapagos has a 12-month low of $24.78 and a 12-month high of $44.25. The business’s 50 day moving average price is $26.40 and its two-hundred day moving average price is $31.06.

Galapagos (NASDAQ:GLPG) last released its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.51. The firm had revenue of $67.79 million for the quarter, compared to analyst estimates of $69.04 million. On average, sell-side analysts predict that Galapagos will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Galapagos

Several large investors have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in Galapagos by 18.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,706 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 261 shares during the last quarter. Headlands Technologies LLC lifted its holdings in Galapagos by 949.3% during the 1st quarter. Headlands Technologies LLC now owns 787 shares of the biotechnology company’s stock worth $25,000 after buying an additional 712 shares in the last quarter. Rhumbline Advisers lifted its holdings in Galapagos by 21.6% during the 2nd quarter. Rhumbline Advisers now owns 4,578 shares of the biotechnology company’s stock worth $113,000 after buying an additional 814 shares in the last quarter. Signaturefd LLC lifted its holdings in Galapagos by 78.6% during the 4th quarter. Signaturefd LLC now owns 1,970 shares of the biotechnology company’s stock worth $80,000 after buying an additional 867 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in Galapagos during the 4th quarter worth $44,000. 32.46% of the stock is currently owned by institutional investors.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.