Galapagos (NASDAQ:GLPG) Shares Gap Up – Still a Buy?

Galapagos NV (NASDAQ:GLPG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $25.44, but opened at $26.79. Galapagos shares last traded at $26.90, with a volume of 67,197 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on GLPG shares. Royal Bank of Canada dropped their price target on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Kepler Capital Markets lowered shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Barclays restated an “underweight” rating on shares of Galapagos in a research report on Thursday, January 23rd. TD Cowen lowered shares of Galapagos from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, January 9th. Finally, Morgan Stanley lowered Galapagos from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $31.00 to $22.00 in a research note on Friday, February 14th. Five research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.75.

Galapagos Stock Performance

The business’s 50-day moving average is $25.42 and its two-hundred day moving average is $27.04.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. R Squared Ltd purchased a new position in Galapagos during the fourth quarter worth approximately $26,000. GAMMA Investing LLC raised its holdings in shares of Galapagos by 77.4% during the 4th quarter. GAMMA Investing LLC now owns 2,233 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 974 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Galapagos by 63.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,899 shares of the biotechnology company’s stock valued at $112,000 after acquiring an additional 1,510 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Galapagos by 65.6% in the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock valued at $185,000 after purchasing an additional 2,541 shares during the period. Finally, QRG Capital Management Inc. acquired a new stake in Galapagos during the third quarter worth about $247,000. 32.46% of the stock is currently owned by institutional investors and hedge funds.

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.