Galapagos (NASDAQ:GLPG) Earns “Equal Weight” Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Galapagos (NASDAQ:GLPG) in a research note released on Monday, Benzinga reports. The brokerage currently has a $38.00 target price on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. Bank of America reaffirmed an underperform rating and issued a $31.00 price target (down from $41.00) on shares of Galapagos in a report on Thursday, March 28th. StockNews.com downgraded Galapagos from a buy rating to a hold rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $34.50.

Galapagos Stock Down 2.3 %

Shares of GLPG opened at $28.77 on Monday. The stock has a 50 day moving average price of $33.72 and a 200 day moving average price of $36.36. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -12.56 and a beta of 0.24. Galapagos has a 52-week low of $28.76 and a 52-week high of $45.21.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GLPG. Vestal Point Capital LP purchased a new position in Galapagos in the fourth quarter worth $5,284,000. Stonepine Capital Management LLC raised its stake in shares of Galapagos by 17.6% during the 3rd quarter. Stonepine Capital Management LLC now owns 802,544 shares of the biotechnology company’s stock worth $27,728,000 after buying an additional 119,880 shares during the last quarter. Citigroup Inc. raised its stake in shares of Galapagos by 7,243.0% during the 3rd quarter. Citigroup Inc. now owns 90,686 shares of the biotechnology company’s stock worth $3,133,000 after buying an additional 89,451 shares during the last quarter. FMR LLC raised its stake in shares of Galapagos by 0.7% during the 3rd quarter. FMR LLC now owns 4,317,676 shares of the biotechnology company’s stock worth $149,176,000 after buying an additional 28,497 shares during the last quarter. Finally, Hudson Bay Capital Management LP raised its stake in shares of Galapagos by 7.7% during the 3rd quarter. Hudson Bay Capital Management LP now owns 350,000 shares of the biotechnology company’s stock worth $12,092,000 after buying an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 32.46% of the company’s stock.

Galapagos Company Profile

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.