The Brokerages Set Galapagos NV (NASDAQ:GLPG) Price Target at $66.25

The Brokerages Set Galapagos NV (NASDAQ:GLPG) Price Target at $66.25

Galapagos NV (NASDAQ:GLPG) has been given an average rating of “Buy” by the eight analysts that are presently covering the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is €66.25 ($73.61).

GLPG has been the topic of several recent research reports. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $48.00 price target on shares of Galapagos NV in a report on Friday, June 17th. Zacks Investment Research lowered shares of Galapagos NV from a “buy” rating to a “hold” rating in a report on Monday, July 4th. Finally, Janney Montgomery Scott initiated coverage on shares of Galapagos NV in a report on Tuesday, August 30th. They issued a “buy” rating and a $64.00 price target on the stock.

Several hedge funds and other institutional investors have recently modified their holdings of GLPG. Wellington Management Group LLP increased its position in shares of Galapagos NV by 28.5% in the first quarter. Wellington Management Group LLP now owns 800,199 shares of the company’s stock worth $33,465,000 after buying an additional 177,656 shares during the period. Deerfield Management Co. increased its position in Galapagos NV by 79.0% in the first quarter. Deerfield Management Co. now owns 327,626 shares of the company’s stock valued at $13,701,000 after buying an additional 144,626 shares during the period. Bank of New York Mellon Corp bought a new position in Galapagos NV during the second quarter valued at $3,634,000. P.A.W. Capital Corp bought a new position in Galapagos NV during the second quarter valued at $1,109,000. Finally, Alps Advisors Inc. increased its position in Galapagos NV by 47.6% in the second quarter. Alps Advisors Inc. now owns 64,775 shares of the company’s stock valued at $3,593,000 after buying an additional 20,901 shares during the period. Institutional investors and hedge funds own 21.21% of the company’s stock.

Galapagos NV (NASDAQ:GLPG) opened at 65.10 on Tuesday. The stock’s market cap is $3.00 billion. Galapagos NV has a 12 month low of $37.03 and a 12 month high of $73.37. The stock’s 50 day moving average price is $59.96 and its 200-day moving average price is $53.17.

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