Cantor Fitzgerald Comments on Zai Lab FY2024 Earnings

Zai Lab Limited (NASDAQ:ZLAB - Free Report) - Cantor Fitzgerald issued their FY2024 earnings per share estimates for Zai Lab in a report issued on Wednesday, February 5th. Cantor Fitzgerald analyst L. Watsek anticipates that the company will earn ($2.54) per share for the year. Cantor Fitzgerald currently has a "Strong-Buy" rating on the stock. The consensus estimate for Zai Lab's current full-year earnings is ($2.58) per share. Cantor Fitzgerald also issued estimates for Zai Lab's FY2025 earnings at ($1.38) EPS.

Separately, JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an "overweight" rating in a report on Monday, October 21st.

Zai Lab Stock Up 0.3 %

ZLAB traded up $0.07 during trading on Friday, reaching $27.60. 210,985 shares of the company were exchanged, compared to its average volume of 622,622. Zai Lab has a 12-month low of $13.48 and a 12-month high of $36.60. The company's 50-day moving average is $26.59 and its two-hundred day moving average is $24.54. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -9.97 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZLAB. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Zai Lab by 39.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 841,735 shares of the company's stock valued at $22,045,000 after buying an additional 237,582 shares during the period. Daiwa Securities Group Inc. raised its holdings in Zai Lab by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 13,833 shares of the company's stock worth $362,000 after purchasing an additional 4,276 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Zai Lab during the 4th quarter valued at about $1,674,000. Raymond James Financial Inc. purchased a new position in shares of Zai Lab during the fourth quarter valued at about $1,032,000. Finally, US Bancorp DE raised its stake in Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after buying an additional 5,534 shares in the last quarter. Institutional investors own 41.65% of the company's stock.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the sale, the insider now directly owns 33,834 shares in the company, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 13.88% of the company's stock.

Zai Lab Company Profile

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.