Galapagos NV (NASDAQ:GLPG) Receives $30.75 Average Target Price from Analysts

Galapagos NV (NASDAQ:GLPG) has recently been evaluated by analysts, who have provided the stock with an average recommendation of "Reduce". According to reports from covering analysts, this consensus is based on assessments from seven financial professionals. Of these analysts, two have rated the stock as a sell, while the remaining five have opted for a hold rating. The average target price set for Galapagos over the next year is $30.75.

Several financial analysts have also shared their insights on GLPG shares. On September 9th, Leerink Partners upgraded Galapagos to a "hold" rating in one of their research reports. Following that, on November 1st, the Royal Bank of Canada revised their price target downward from $32.00 to $30.00, assigning a "sector perform" rating to the company. Notably, Leerink Partners initiated coverage on Galapagos, and they proposed a "market perform" rating along with a price target of $24.00. Additionally, on November 20th, Kepler Capital Markets adjusted their stance on Galapagos from a "hold" to a "reduce" rating.

Institutional Inflows and Outflows

In recent weeks, notable changes in equity positions have been observed among large institutional investors concerning Galapagos. AlphaCentric Advisors LLC increased its stake by 3.3% in the second quarter, accumulating a total of 108,500 shares worth approximately $2,689,000 after acquiring an additional 3,500 shares. Meanwhile, Signaturefd LLC reported a significant boost of 48.1% in their holdings, leading to an ownership of 3,872 shares valued at $96,000 after purchasing 1,258 additional shares. Rhumbline Advisers also raised its position by 21.6%, owning 4,578 shares worth $113,000 after buying 814 more shares. Monaco Asset Management SAM saw a 25.4% increase in their stake, bringing their total to 20,999 shares valued at $520,000 after an additional purchase of 4,255 shares. Lastly, Headlands Technologies LLC expanded its holdings by 56.7% in the second quarter, owning 1,233 shares currently valued at $31,000, following 446 additional shares purchased. Collectively, hedge funds and institutional investors control about 32.46% of Galapagos stock.

Galapagos Trading Update

As for the trading performance of GLPG, shares opened at $26.76 on Thursday. Currently, the 50-day simple moving average stands at $27.71 while the 200-day simple moving average is $27.35. Over the past twelve months, the stock has witnessed a low of $24.16 and a high of $42.46.

Overview of Galapagos

Galapagos NV is a biotechnology company engaged in the development of medications, particularly focusing on oncology and immunology projects within the United States and Europe. The company is progressing with several pipeline products, including GLPG3667, which has completed Phase 1b trials; GLPG5101, a CD19 CAR-T product currently in Phase 1/2 trials for relapsed/refractory non-Hodgkin lymphoma; GLPG5201, another CD19 CAR-T candidate in Phase 1/2 trials for relapsed/refractory chronic lymphocytic leukemia; and GLPG5301, which is a BCMA CAR-T product also in Phase 1/2 trials for relapsed/refractory multiple myeloma.

Galapagos, Analysts, Target