A Reversal for Galapagos NV (ADR) Is Not Near. The Stock Gaps Up
August 23, 2016 Noel Frank
The stock of Galapagos NV (ADR) (NASDAQ:GLPG) gapped up by $0.33 today and has $78.79 target or 43.00% above today’s $55.10 share price. The 6 months technical chart setup indicates low risk for the $2.51 billion company. The gap was reported on Aug, 23 by Barchart.com. If the $78.79 price target is reached, the company will be worth $1.08 billion more. Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 1.12% or $0.61 on August 23, hitting $55.1. About 28,787 shares traded hands. Galapagos NV (ADR) (NASDAQ:GLPG) has risen 6.03% since January 19, 2016 and is uptrending. It has underperformed by 9.99% the S&P500.
Analysts await Galapagos NV (ADR) (NASDAQ:GLPG) to report earnings on November, 11.
Out of 3 analysts covering Galapagos (NASDAQ:GLPG), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Galapagos has been the topic of 3 analyst reports since September 28, 2015 according to StockzIntelligence Inc.
Gala had voor het goede nieuws 2 analisten op hold staan, nu is er 1 buy erbij gekomen :)..