Cantor Fitzgerald Increases Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB - Free Report) - Research analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Zai Lab in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings per share of ($2.54) for the year, up from their prior forecast of ($3.16). Cantor Fitzgerald has a "Overweight" rating on the stock. The consensus estimate for Zai Lab's current full-year earnings is ($2.73) per share.

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

Zai Lab Trading Down 7.0 %

NASDAQ ZLAB traded down $1.89 during mid-day trading on Monday, reaching $25.17. 1,786,967 shares of the company's stock traded hands, compared to its average volume of 697,273. Zai Lab has a 1-year low of $13.48 and a 1-year high of $36.60. The company has a fifty day simple moving average of $26.06 and a 200-day simple moving average of $21.13. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -9.30 and a beta of 1.04.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently bought and sold shares of ZLAB. BNP Paribas Financial Markets increased its stake in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock valued at $43,000 after buying an additional 904 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company's stock worth $4,706,000 after purchasing an additional 99,355 shares during the last quarter. Capital International Inc. CA grew its stake in shares of Zai Lab by 6.7% in the 1st quarter. Capital International Inc. CA now owns 92,108 shares of the company's stock worth $1,476,000 after purchasing an additional 5,815 shares during the last quarter. Capital World Investors grew its stake in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company's stock worth $91,061,000 after purchasing an additional 465,337 shares during the last quarter. Finally, Bamco Inc. NY grew its stake in shares of Zai Lab by 7.3% in the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company's stock worth $25,630,000 after purchasing an additional 108,991 shares during the last quarter. Institutional investors and hedge funds own 41.65% 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.