Zai Lab (NASDAQ:ZLAB) Rating Increased to Strong-Buy at Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports. Cantor Fitzgerald also issued estimates for Zai Lab's FY2025 earnings at ($1.38) EPS.

Separately, Bank of America reaffirmed a "neutral" rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Zai Lab Stock Up 2.9 %

Shares of NASDAQ ZLAB traded up $1.03 during midday trading on Tuesday, reaching $36.42. 1,312,257 shares of the company were exchanged, compared to its average volume of 751,030. The stock's 50-day moving average price is $28.46 and its 200-day moving average price is $26.51. The stock has a market cap of $3.99 billion, a P/E ratio of -13.15 and a beta of 1.08. Zai Lab has a one year low of $13.48 and a one year high of $37.99.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, equities research analysts anticipate that Zai Lab will post -2.58 EPS for the current year.

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Insider Buying and Selling

In related news, insider Rafael Amado sold 7,583 shares of the business's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the sale, the insider now owns 33,834 shares of the company's stock, valued at $889,157.52. The trade was a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the business's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now directly owns 14,328 shares in the company, valued at approximately $472,537.44. This represents a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,127 shares of company stock valued at $4,024,442 over the last 90 days. 13.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Zai Lab

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in Zai Lab in the fourth quarter valued at $46,172,000. Geode Capital Management LLC lifted its holdings in Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company's stock valued at $1,053,000 after buying an additional 9,107 shares during the period. Alberta Investment Management Corp lifted its holdings in Zai Lab by 42.9% in the fourth quarter. Alberta Investment Management Corp now owns 232,293 shares of the company's stock valued at $6,084,000 after buying an additional 69,740 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Zai Lab by 28.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company's stock valued at $4,801,000 after buying an additional 41,128 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Zai Lab in the fourth quarter valued at $511,000. Institutional investors and hedge funds own 41.65% of the company's stock.

About Zai Lab

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.