Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Should You Buy?

Shares of Galapagos NV (NASDAQ:GLPG) saw unusually-strong trading volume on Thursday . Approximately 192,635 shares traded hands during trading, an increase of 28% from the previous session’s volume of 151,020 shares.The stock last traded at $26.34 and had previously closed at $26.65.

Analyst Ratings Changes

GLPG has been the subject of a number of recent research reports. Royal Bank of Canada lowered their price objective on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research report on Monday, September 9th. Kepler Capital Markets downgraded Galapagos from a “hold” rating to a “reduce” rating in a report on Wednesday, November 20th. Finally, Leerink Partners started coverage on Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Galapagos presently has an average rating of “Hold” and a consensus price target of $30.75.

Galapagos Price Performance

The business’s 50-day simple moving average is $27.71 and its 200-day simple moving average is $27.36.

Institutional Investors Weigh In On Galapagos

A number of large investors have recently made changes to their positions in GLPG. Primecap Management Co. CA boosted its stake in shares of Galapagos by 0.7% during the 2nd quarter. Primecap Management Co. CA now owns 720,240 shares of the biotechnology company’s stock valued at $17,848,000 after purchasing an additional 5,000 shares in the last quarter. Finepoint Capital LP lifted its holdings in Galapagos by 2.8% in the third quarter. Finepoint Capital LP now owns 557,762 shares of the biotechnology company’s stock worth $16,058,000 after buying an additional 15,000 shares during the period. Stonepine Capital Management LLC boosted its position in Galapagos by 23.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after acquiring an additional 91,366 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Galapagos by 5.3% during the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock worth $8,466,000 after acquiring an additional 17,089 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Galapagos by 1.6% in the 2nd quarter. Renaissance Technologies LLC now owns 270,800 shares of the biotechnology company’s stock worth $6,710,000 after acquiring an additional 4,300 shares in the last quarter. 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.