FY2024 EPS Estimates for Zai Lab Raised by Leerink Partnrs

Zai Lab Limited (NASDAQ:ZLAB - Free Report) - Investment analysts at Leerink Partnrs increased their FY2024 EPS estimates for shares of Zai Lab in a report released on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now forecasts that the company will post earnings of ($2.55) per share for the year, up from their prior estimate of ($3.13). The consensus estimate for Zai Lab's current full-year earnings is ($2.97) per share. Leerink Partnrs also issued estimates for Zai Lab's Q4 2024 earnings at ($0.75) EPS and FY2025 earnings at ($1.45) EPS.

Several other brokerages have also recently issued reports on ZLAB. JPMorgan Chase & Co. lifted their target price on Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a report on Friday, October 25th.

Zai Lab Trading Up 1.5 %

Shares of ZLAB traded up $0.39 on Friday, reaching $27.06. The company's stock had a trading volume of 3,951,542 shares, compared to its average volume of 693,208. Zai Lab has a twelve month low of $13.48 and a twelve month high of $36.60. The stock has a market capitalization of $2.70 billion, a PE ratio of -10.33 and a beta of 1.04. The firm has a fifty day moving average of $25.78 and a 200-day moving average of $20.94.

Institutional Trading of Zai Lab

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Zai Lab during the 1st quarter valued at about $64,000. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock valued at $231,000 after buying an additional 3,514 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Zai Lab by 4,851.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company's stock worth $231,000 after purchasing an additional 9,364 shares in the last quarter. Finally, RBF Capital LLC purchased a new position in shares of Zai Lab during the 3rd quarter valued at about $241,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.