Galapagos (NASDAQ:GLPG) Sees Large Volume Increase – Time to Buy?

Galapagos NV (NASDAQ:GLPG) saw strong trading volume on Thursday . 192,635 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 151,020 shares.The stock last traded at $26.34 and had previously closed at $26.65.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GLPG. Leerink Partners initiated coverage on Galapagos in a report on Monday, September 9th. They set a “market perform” rating and a $24.00 target price for the company. Leerink Partnrs upgraded shares of Galapagos to a “hold” rating in a research note on Monday, September 9th. Royal Bank of Canada cut their target price on shares of Galapagos from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Finally, Kepler Capital Markets cut shares of Galapagos from a “hold” rating to a “reduce” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.75.

Galapagos Trading Down 1.1 %

The stock’s fifty day moving average is $27.83 and its two-hundred day moving average is $27.37.

Institutional Investors Weigh In On Galapagos

Several hedge funds and other institutional investors have recently bought and sold shares of GLPG. Stonepine Capital Management LLC lifted its position in shares of Galapagos by 23.2% during the second quarter. Stonepine Capital Management LLC now owns 485,000 shares of the biotechnology company’s stock worth $12,018,000 after purchasing an additional 91,366 shares during the last quarter. DME Capital Management LP raised its stake in Galapagos by 46.9% during the second quarter. DME Capital Management LP now owns 234,828 shares of the biotechnology company’s stock valued at $5,819,000 after buying an additional 75,000 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Galapagos during the 3rd quarter worth approximately $1,077,000. Creative Planning acquired a new position in shares of Galapagos in the 2nd quarter worth approximately $456,000. Finally, Millennium Management LLC raised its position in shares of Galapagos by 5.3% during the 2nd quarter. Millennium Management LLC now owns 341,639 shares of the biotechnology company’s stock valued at $8,466,000 after acquiring an additional 17,089 shares in the last quarter. 32.46% of the stock is currently owned by hedge funds and other institutional investors.

About Galapagos

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.