Galapagos (GLPG) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of Galapagos (NASDAQ:GLPG) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Galapagos NV is a biotechnology company. The Company’s operating segment consists of Research and Development and Services. Research and Development segment is engaged in the discovery and development of small molecules. Services segment offers drug discovery products and services. Its products include GLPG0634 for the treatment of rheumatoid arthritis and other inflammatory diseases, GLPG1205/GLPG1690 for treating inflammatory bowel disease, GSK2586184 for the treatment of chronic immuno-inflammatory diseases and GLPG0974, to prevent free fatty acid-induced activation and migration of neutrophils which are in different clinical trial. Galapagos NV is headquartered in Mechelen, Belgium. “
A number of other analysts have also weighed in on GLPG. Royal Bank of Canada started coverage on Galapagos in a research note on Thursday, September 14th. They set a sector perform rating and a $98.00 price objective for the company. Stifel Nicolaus increased their price objective on Galapagos from $101.00 to $120.00 and gave the company a buy rating in a research note on Friday, September 15th. Morgan Stanley reissued an overweight rating and set a $123.00 price objective (up previously from $92.00) on shares of Galapagos in a research note on Friday, October 6th. BTIG Research reissued a buy rating and set a $118.00 price objective on shares of Galapagos in a research note on Monday, November 20th. Finally, ValuEngine lowered Galapagos from a hold rating to a sell rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $111.00.
Several institutional investors have recently made changes to their positions in GLPG. Bank of New York Mellon Corp raised its holdings in shares of Galapagos by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 38,093 shares of the biotechnology company’s stock valued at $2,915,000 after acquiring an additional 173 shares in the last quarter. Comerica Bank bought a new position in shares of Galapagos during the second quarter valued at approximately $221,000. Marshall Wace North America L.P. raised its holdings in shares of Galapagos by 48.0% during the second quarter. Marshall Wace North America L.P. now owns 17,011 shares of the biotechnology company’s stock valued at $1,310,000 after acquiring an additional 5,514 shares in the last quarter. Pacad Investment Ltd. bought a new position in shares of Galapagos during the second quarter valued at approximately $168,000. Finally, FNY Partners Fund LP raised its holdings in shares of Galapagos by 1,218.2% during the second quarter. FNY Partners Fund LP now owns 14,500 shares of the biotechnology company’s stock valued at $1,109,000 after acquiring an additional 13,400 shares in the last quarter. Institutional investors own 19.68% of the company’s stock.
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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.
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