Bank of America Corp DE Grows Position in Galapagos NV (NASDAQ:GLPG)
Wednesday, September 6th, 2017
Nicole Wilson
Bank of America Corp DE raised its stake in Galapagos NV (NASDAQ:GLPG) by 18.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,379 shares of the biotechnology company’s stock after purchasing an additional 694 shares during the period. Bank of America Corp DE’s holdings in Galapagos NV were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of GLPG. Bank of Montreal Can grew its stake in Galapagos NV by 8,736.4% in the first quarter. Bank of Montreal Can now owns 1,944 shares of the biotechnology company’s stock valued at $168,000 after purchasing an additional 1,922 shares during the last quarter. Cim Investment Mangement Inc. purchased a new position in Galapagos NV in the first quarter valued at about $203,000. Karp Capital Management Corp purchased a new position in Galapagos NV in the first quarter valued at about $206,000. Airain ltd purchased a new position in Galapagos NV in the first quarter valued at about $237,000. Finally, Cookson Peirce & Co. Inc. purchased a new position in Galapagos NV in the first quarter valued at about $261,000. Institutional investors own 23.63% of the company’s stock.
Shares of Galapagos NV (NASDAQ GLPG) opened at 95.66 on Wednesday. Galapagos NV has a 52 week low of $53.93 and a 52 week high of $95.67. The stock’s market cap is $4.87 billion. The stock’s 50 day moving average price is $83.82 and its 200-day moving average price is $82.04.
GLPG has been the topic of several analyst reports. TheStreet upgraded Galapagos NV from a “d+” rating to a “c” rating in a research note on Wednesday, May 17th. BTIG Research restated a “buy” rating and set a $98.00 price target on shares of Galapagos NV in a research note on Tuesday, June 20th. Cowen and Company restated a “buy” rating on shares of Galapagos NV in a research note on Wednesday, June 21st. Nomura dropped their price target on Galapagos NV from $108.00 to $121.00 and set a “buy” rating on the stock in a research note on Thursday, June 22nd. Finally, Instinet restated a “buy” rating and set a $108.00 price target (down previously from $121.00) on shares of Galapagos NV in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Galapagos NV currently has a consensus rating of “Buy” and a consensus price target of $101.50.
About Galapagos NV
Galapagos NV is a Belgium-based biotechnology company. The Company’s activities are divided into two operating divisions: Research and Development (R & D) and Services. The R & D division is engaged in the discovery and development of small molecules. The Services division, offers target-to-drug discovery products and services to pharmaceutical and biotechnology companies and to patient foundations, encompassing target discovery and validation, screening and drug discovery through to delivery of pre-clinical candidates.