Galapagos (NASDAQ:GLPG) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Galapagos (NASDAQ:GLPG) from a strong sell rating to a hold rating in a research report report published on Wednesday 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. “

Several other research analysts have also weighed in on GLPG. ValuEngine raised shares of Galapagos from a buy rating to a strong-buy rating in a research note on Saturday, October 17th. BidaskClub raised shares of Galapagos from a strong sell rating to a sell rating in a report on Thursday, September 17th. Barclays reaffirmed an equal weight rating on shares of Galapagos in a report on Tuesday, October 13th. Royal Bank of Canada reduced their target price on shares of Galapagos from $135.00 to $131.00 and set a sector perform rating on the stock in a report on Friday, October 16th. Finally, UBS Group reaffirmed a neutral rating on shares of Galapagos in a report on Friday, October 16th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Galapagos has an average rating of Hold and an average target price of $188.46.

Shares of NASDAQ GLPG opened at $127.65 on Wednesday. The firm has a 50-day simple moving average of $136.20 and a 200-day simple moving average of $181.29. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 81.83 and a beta of 0.80. The company has a quick ratio of 9.09, a current ratio of 9.09 and a debt-to-equity ratio of 0.01. Galapagos has a 52 week low of $112.00 and a 52 week high of $274.03.

Galapagos (NASDAQ:GLPG) last issued its earnings results on Thursday, August 6th. The biotechnology company reported ($1.95) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.07) by ($0.88). The business had revenue of $129.53 million during the quarter, compared to analyst estimates of $118.41 million. Galapagos had a net margin of 8.13% and a return on equity of 8.24%. As a group, equities research analysts expect that Galapagos will post -4.76 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Galapagos by 68.0% during the first quarter. Morgan Stanley now owns 121,181 shares of the biotechnology company’s stock worth $23,742,000 after purchasing an additional 49,053 shares in the last quarter. Comerica Bank grew its position in shares of Galapagos by 4.0% during the second quarter. Comerica Bank now owns 3,496 shares of the biotechnology company’s stock worth $728,000 after acquiring an additional 135 shares during the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of Galapagos during the first quarter worth approximately $2,323,000. Public Employees Retirement Association of Colorado grew its position in shares of Galapagos by 11.4% during the second quarter. Public Employees Retirement Association of Colorado now owns 53,037 shares of the biotechnology company’s stock worth $10,464,000 after acquiring an additional 5,435 shares during the last quarter. Finally, FDx Advisors Inc. grew its position in shares of Galapagos by 29.4% during the second quarter. FDx Advisors Inc. now owns 3,289 shares of the biotechnology company’s stock worth $649,000 after acquiring an additional 747 shares during the last quarter. 11.58% of the stock is currently owned by institutional investors.

About Galapagos

Galapagos NV, a clinical-stage biotechnology company, discovers, develops, and commercializes various small molecule medicines. Its clinical stage programs include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, Sjögren's syndrome, ankylosing spondylitis, psoriatic arthritis, cutaneous lupus erythematosus, lupus membranous nephropathy, and uveitis.

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