GALAPAGOS NV/S (NASDAQ:GLPG) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research cut shares of GALAPAGOS NV/S (NASDAQ:GLPG) from a buy rating to a hold rating in a research note published on Thursday morning, Zacks.com reports.

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. “

Other research analysts have also recently issued reports about the company. HC Wainwright lifted their price objective on GALAPAGOS NV/S from $150.00 to $205.00 and gave the company a buy rating in a research report on Monday, July 15th. Credit Suisse Group reaffirmed an outperform rating on shares of GALAPAGOS NV/S in a research report on Wednesday, July 10th. Jefferies Financial Group cut GALAPAGOS NV/S from a buy rating to a hold rating in a research report on Monday, July 29th. Stifel Nicolaus lifted their price objective on GALAPAGOS NV/S from $121.00 to $188.00 and gave the company a buy rating in a research report on Monday, July 15th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $130.00 price objective on shares of GALAPAGOS NV/S in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of $156.45.

GLPG stock opened at $172.18 on Thursday. GALAPAGOS NV/S has a twelve month low of $85.00 and a twelve month high of $191.63. The company has a quick ratio of 6.40, a current ratio of 6.40 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $162.66 and its 200-day moving average price is $124.35.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its stake in GALAPAGOS NV/S by 170.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 249 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 157 shares during the period. Royal Bank of Canada raised its stake in GALAPAGOS NV/S by 206.1% during the 2nd quarter. Royal Bank of Canada now owns 251 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 169 shares during the period. Ladenburg Thalmann Financial Services Inc. bought a new stake in GALAPAGOS NV/S during the 2nd quarter valued at approximately $59,000. Quantamental Technologies LLC bought a new stake in GALAPAGOS NV/S during the 2nd quarter valued at approximately $74,000. Finally, Shilanski & Associates Inc. bought a new stake in GALAPAGOS NV/S during the 2nd quarter valued at approximately $208,000. 17.06% of the stock is currently owned by institutional investors.

About GALAPAGOS NV/S

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes novel medicines. Its clinical stage programs include filgotinib, which is in Phase III clinical trials for the treatment of rheumatoid arthritis and Crohn's disease, Phase 2/3 trials for ulcerative colitis, and Phase II trials for multiple additional indications; GLPG1690, an autotaxin inhibitor, which is in Phase III clinical trial for the treatment of idiopathic pulmonary fibrosis; GLPG1972 that completed Phase 1b clinical trial for the treatment of osteoarthritis; and MOR106, which is in Phase II trials for atopic dermatitis patients.

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