Galapagos NV (NASDAQ:GLPG) Upgraded to Neutral by Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of Galapagos NV (NASDAQ:GLPG) from a sell rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat reports. The analysts noted that the move was a valuation call.

GLPG has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Galapagos NV from a buy rating to a hold rating in a report on Tuesday, March 21st. Nomura cut their price target on shares of Galapagos NV from $108.00 to $121.00 and set a buy rating for the company in a report on Thursday, June 22nd. Stifel Nicolaus increased their price target on shares of Galapagos NV from $65.00 to $83.00 and gave the company a hold rating in a report on Monday, May 1st. TheStreet upgraded shares of Galapagos NV from a d+ rating to a c rating in a report on Wednesday, May 17th. Finally, Instinet reiterated a buy rating and issued a $108.00 price target (down previously from $121.00) on shares of Galapagos NV in a report on Thursday, June 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $94.00.

Shares of Galapagos NV (NASDAQ GLPG) traded down 0.95% during mid-day trading on Friday, hitting $75.96. 161,354 shares of the stock traded hands. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 723.43 and a beta of 1.78. Galapagos NV has a 12-month low of $51.91 and a 12-month high of $94.88.

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Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $161,000. Bank of Montreal Can boosted its stake in shares of Galapagos NV by 8,736.4% in the first quarter. Bank of Montreal Can now owns 1,944 shares of the biotechnology company’s stock worth $168,000 after buying an additional 1,922 shares during the last quarter. Cim Investment Mangement Inc. acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $203,000. Karp Capital Management Corp acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $206,000. Finally, Airain ltd acquired a new stake in shares of Galapagos NV during the first quarter worth approximately $237,000. 19.92% of the stock is currently owned by hedge funds and other institutional investors.

About Galapagos NV

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 NV (NASDAQ:GLPG)

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