Zai Lab (NASDAQ:ZLAB - Get Free Report)'s stock had its "overweight" rating reaffirmed by analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports.
A number of other research analysts also recently weighed in on the stock. Bank of America reissued a "neutral" rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank initiated coverage on Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their target price on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th.
Check Out Our Latest Stock Analysis on ZLAB
Zai Lab Trading Up 3.1 %
Shares of ZLAB stock traded up $1.11 during trading on Thursday, hitting $37.29. The company's stock had a trading volume of 1,532,132 shares, compared to its average volume of 757,600. The company has a market cap of $4.09 billion, a PE ratio of -13.46 and a beta of 1.08. The business has a fifty day moving average of $31.76 and a 200-day moving average of $28.31. Zai Lab has a 52 week low of $13.48 and a 52 week high of $39.77.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, research analysts predict that Zai Lab will post -2.58 EPS for the current year.
Insider Buying and Selling
In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the transaction, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This represents a 8.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares in the company, valued at approximately $16,029,155.48. This trade represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,127 shares of company stock valued at $4,139,672. Corporate insiders own 13.88% of the company's stock.
Institutional Trading of Zai Lab
A number of hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in shares of Zai Lab during the fourth quarter worth approximately $29,000. Pictet Asset Management Holding SA purchased a new position in Zai Lab in the 4th quarter worth $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock valued at $1,496,000 after buying an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock valued at $290,000 after buying an additional 1,502 shares during the last quarter. Finally, Invesco Ltd. grew its position in Zai Lab by 4.2% during the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after acquiring an additional 1,790 shares during the last quarter. Institutional investors own 41.65% of the company's stock.
About Zai Lab
(
Get Free Report)
Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.
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