Galapagos (NASDAQ:GLPG) Shares Gap Up – Time to Buy?

Galapagos NV (NASDAQ:GLPG) 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 traded.

Analyst Upgrades and Downgrades

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

Galapagos Stock Performance

The stock has a 50-day simple moving average of $25.45 and a 200 day simple moving average of $27.04.

Institutional Investors Weigh In On Galapagos

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in 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 buying an additional 974 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Galapagos in the third quarter worth $1,077,000. Signaturefd LLC raised its holdings in shares of Galapagos by 65.6% during the third quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,541 shares during the last quarter. Creative Planning lifted its position in Galapagos by 18.8% during the third quarter. Creative Planning now owns 21,870 shares of the biotechnology company’s stock valued at $630,000 after purchasing an additional 3,463 shares during the period. Finally, R Squared Ltd purchased a new stake in Galapagos in the fourth quarter valued at $26,000. Institutional investors and hedge funds 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.