Galapagos (NASDAQ:GLPG) Price Target Raised to $32.00 at Royal Bank Of Canada

Galapagos (NASDAQ:GLPG) had its price objective upped by Royal Bank Of Canada from $28.00 to $32.00 in a research note published on Friday morning,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Leerink Partnrs upgraded shares of Galapagos from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Galapagos in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Galapagos from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Deutsche Bank Aktiengesellschaft restated a “sell” rating on shares of Galapagos in a research report on Tuesday, August 5th. Finally, Leerink Partners set a $40.00 price objective on Galapagos and gave the company an “outperform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, Galapagos currently has an average rating of “Reduce” and a consensus target price of $31.33.

Galapagos Stock Up 1.1%

NASDAQ GLPG traded up $0.33 on Friday, reaching $31.53. 200,896 shares of the stock traded hands, compared to its average volume of 298,245. Galapagos has a 12 month low of $22.36 and a 12 month high of $37.78. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -20.08 and a beta of 0.23. The firm’s fifty day simple moving average is $32.91 and its 200 day simple moving average is $30.65.

Hedge Funds Weigh In On Galapagos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLPG. State of Wyoming purchased a new position in Galapagos during the 2nd quarter worth approximately $28,000. GAMMA Investing LLC boosted its position in shares of Galapagos by 79.4% in the third quarter. GAMMA Investing LLC now owns 1,473 shares of the biotechnology company’s stock worth $51,000 after buying an additional 652 shares during the period. Wealthquest Corp purchased a new position in shares of Galapagos during the first quarter valued at $74,000. Vanguard Personalized Indexing Management LLC acquired a new position in Galapagos during the third quarter valued at $212,000. Finally, Ascent Group LLC acquired a new position in Galapagos during the third quarter valued at $219,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

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.