Galapagos (NASDAQ:GLPG) Shares Gap Up – Still a Buy?

Galapagos NV (NASDAQ:GLPG)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $28.79, but opened at $29.49. Galapagos shares last traded at $29.40, with a volume of 130,033 shares.

Analysts Set New Price Targets

Several analysts have recently commented on GLPG shares. Royal Bank of Canada reduced their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Kepler Capital Markets downgraded shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.75.

Galapagos Trading Down 0.7 %

The business has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $27.49.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Creative Planning acquired a new position in Galapagos during the second quarter worth approximately $456,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Galapagos during the 3rd quarter worth $1,077,000. Signaturefd LLC increased its holdings in shares of Galapagos by 65.6% during the 3rd quarter. Signaturefd LLC now owns 6,413 shares of the biotechnology company’s stock worth $185,000 after buying an additional 2,541 shares during the last quarter. Headlands Technologies LLC raised its position in shares of Galapagos by 56.7% in the 2nd quarter. Headlands Technologies LLC now owns 1,233 shares of the biotechnology company’s stock worth $31,000 after buying an additional 446 shares during the period. Finally, Stonepine Capital Management LLC boosted its holdings in Galapagos by 23.2% in the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock valued at $12,018,000 after acquiring an additional 91,366 shares during the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

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.