Galapagos NV (ADR) Stock Price Gaps Up Today; Buyers Are Thriving
October 19, 2015 by Sally Goff in Stock Gap News ·
The stock of Galapagos NV (ADR) (GLPG) gapped up by $0.52 today and has $84.62 target or 67.00% above today’s $50.67 share price. The 9 months technical chart setup indicates low risk for the $1.90B company. The gap was reported on Oct, 20 by Barchart.com. If the $84.62 price target is reached, the company will be worth $1.27B 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 4.26% or $2.07 on October 19, hitting $50.67. About 78,123 shares traded hands. Galapagos NV (ADR) (NASDAQ:GLPG) has risen 6.00% since September 20, 2015 and is uptrending. It has outperformed by 8.31% the S&P500.
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.”