GALAPAGOS NV/S (NASDAQ:GLPG) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of GALAPAGOS NV/S (NASDAQ:GLPG) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has $152.00 price target on the biotechnology company’s stock.

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 analysts also recently issued reports on GLPG. Cantor Fitzgerald reissued a buy rating and issued a $25.00 price target on shares of Menlo Therapeutics in a report on Thursday, May 2nd. HC Wainwright set a $10.00 price objective on shares of Jaguar Health and gave the company a buy rating in a report on Tuesday, July 2nd. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a report on Thursday, June 27th. ValuEngine upgraded shares of XPO Logistics from a strong sell rating to a sell rating in a research report on Thursday, April 4th. Finally, Morgan Stanley boosted their target price on shares of Thomson Reuters from $66.00 to $67.00 and gave the stock an overweight rating in a report on Monday, April 29th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company’s stock. GALAPAGOS NV/S presently has a consensus rating of Buy and an average target price of $134.90.

Shares of GLPG stock opened at $145.75 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 6.31 and a quick ratio of 6.31. The business has a fifty day simple moving average of $125.33. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of -220.83 and a beta of 1.54. GALAPAGOS NV/S has a 52-week low of $85.00 and a 52-week high of $146.13.

GALAPAGOS NV/S (NASDAQ:GLPG) last announced its quarterly earnings data on Friday, April 26th. The biotechnology company reported ($1.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.19) by $0.18. The business had revenue of $46.47 million for the quarter, compared to the consensus estimate of $44.92 million. GALAPAGOS NV/S had a negative return on equity of 3.60% and a negative net margin of 13.24%. Equities analysts anticipate that GALAPAGOS NV/S will post -4.61 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in GALAPAGOS NV/S by 35.3% during the 1st quarter. FMR LLC now owns 502,193 shares of the biotechnology company’s stock valued at $59,148,000 after buying an additional 131,119 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of GALAPAGOS NV/S by 530.8% in the fourth quarter. Bank of New York Mellon Corp now owns 249,137 shares of the biotechnology company’s stock valued at $22,857,000 after purchasing an additional 209,642 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of GALAPAGOS NV/S by 14.5% in the first quarter. Alps Advisors Inc. now owns 87,116 shares of the biotechnology company’s stock valued at $10,261,000 after purchasing an additional 11,045 shares in the last quarter. Millennium Management LLC grew its holdings in shares of GALAPAGOS NV/S by 14.6% in the fourth quarter. Millennium Management LLC now owns 72,538 shares of the biotechnology company’s stock valued at $6,655,000 after purchasing an additional 9,217 shares in the last quarter. Finally, Norges Bank bought a new stake in GALAPAGOS NV/S in the fourth quarter worth $6,422,000. 16.33% of the stock is 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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