Trading Report: Today, Goldman Sachs Group Inc. Upgrades Galapagos NV (GLPG) to “Buy”

Today, Goldman Sachs Group Inc. Upgrades Galapagos NV (GLPG) to “Buy”

Galapagos NV (NASDAQ:GLPG) was upgraded by investment analysts at Goldman Sachs Group Inc. from a “neutral” rating to a “buy” rating in a research note issued on Tuesday.

Several other brokerages have also recently issued reports on GLPG. Zacks Investment Research upgraded shares of Galapagos NV from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, July 13th. Janney Montgomery Scott started coverage on shares of Galapagos NV in a research report on Tuesday, August 30th. They set a “buy” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of €67.80 ($74.51).

Galapagos NV (NASDAQ:GLPG) traded up 5.50% during midday trading on Tuesday, reaching $67.00. 54,669 shares of the company’s stock traded hands. The firm’s market cap is $3.09 billion. Galapagos NV has a 52-week low of $37.03 and a 52-week high of $73.37. The firm’s 50-day moving average is $61.70 and its 200 day moving average is $54.21.

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake 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. boosted its stake in shares of Galapagos NV by 79.0% in the first quarter. Deerfield Management Co. now owns 327,626 shares of the company’s stock worth $13,701,000 after buying an additional 144,626 shares during the period. Tekla Capital Management LLC boosted its stake in shares of Galapagos NV by 638.7% in the second quarter. Tekla Capital Management LLC now owns 147,738 shares of the company’s stock worth $8,195,000 after buying an additional 127,738 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Galapagos NV by 56.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 235,000 shares of the company’s stock worth $13,035,000 after buying an additional 85,000 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Galapagos NV during the second quarter worth $3,634,000. Institutional investors and hedge funds own 21.21% of the company’s stock.

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