Zacks Investment Research cut shares of Galapagos (NASDAQ:GLPG) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
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. “
A number of other brokerages also recently weighed in on GLPG. Morgan Stanley reiterated an overweight rating and issued a $123.00 target price (up previously from $92.00) on shares of Galapagos in a report on Friday, October 6th. ValuEngine downgraded Galapagos from a hold rating to a sell rating in a report on Friday, December 1st. Royal Bank of Canada initiated coverage on Galapagos in a report on Thursday, September 14th. They issued a sector perform rating and a $98.00 target price on the stock. Stifel Nicolaus reiterated a buy rating and issued a $120.00 target price on shares of Galapagos in a report on Sunday, October 29th. Finally, BTIG Research reiterated a buy rating and issued a $118.00 target price on shares of Galapagos in a report on Monday, November 20th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. Galapagos currently has an average rating of Hold and a consensus target price of $111.00.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in shares of Galapagos in the 3rd quarter valued at approximately $105,000. New York State Common Retirement Fund bought a new stake in shares of Galapagos in the 2nd quarter valued at approximately $166,000. Pacad Investment Ltd. bought a new stake in shares of Galapagos in the 2nd quarter valued at approximately $168,000. Envestnet Asset Management Inc. grew its stake in shares of Galapagos by 156.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,742 shares of the biotechnology company’s stock valued at $177,000 after buying an additional 1,063 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Galapagos in the 2nd quarter valued at approximately $214,000. 19.68% of the stock is owned by institutional investors and hedge funds.
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Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.
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