Galapagos (NASDAQ:GLPG) Shares Gap Down to $32.95

Galapagos NV (NASDAQ:GLPG)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $32.95, but opened at $32.18. Galapagos shares last traded at $32.03, with a volume of 49,678 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLPG. StockNews.com downgraded Galapagos from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Morgan Stanley started coverage on shares of Galapagos in a research report on Thursday, March 7th. They issued an “equal weight” rating and a $38.00 price objective for the company. Finally, Bank of America reiterated an “underperform” rating and issued a $31.00 price target (down previously from $41.00) on shares of Galapagos in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.50.

Galapagos Trading Down 3.0 %

The stock has a market cap of $2.11 billion, a PE ratio of -14.39 and a beta of 0.26. The firm’s 50-day moving average price is $36.57 and its two-hundred day moving average price is $36.94.

Institutional Trading of Galapagos

Several hedge funds and other institutional investors have recently bought and sold shares of GLPG. BNP Paribas Financial Markets boosted its holdings in shares of 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. Acadian Asset Management LLC purchased a new position in shares of Galapagos during the 1st quarter valued at about $25,000. US Bancorp DE grew its stake in shares of Galapagos by 157.4% during the 4th quarter. US Bancorp DE now owns 821 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 502 shares during the period. GAMMA Investing LLC acquired a new position in shares of Galapagos during the 4th quarter worth approximately $44,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Galapagos by 147.9% in the third quarter. Tower Research Capital LLC TRC now owns 1,133 shares of the biotechnology company’s stock worth $49,000 after buying an additional 676 shares in the last quarter. Institutional investors own 32.46% of the company’s stock.

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.