Zai Lab (NASDAQ:ZLAB) Stock Rating Reaffirmed by Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB - Get Free Report)'s stock had its "overweight" rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Friday, Benzinga reports.

Separately, JPMorgan Chase & Co. upped their price objective on Zai Lab from $38.00 to $44.00 and gave the company an "overweight" rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $57.71.

Zai Lab Stock Down 2.4 %

NASDAQ:ZLAB traded down $0.81 on Friday, hitting $32.37. The stock had a trading volume of 993,392 shares, compared to its average volume of 661,198. The company has a market cap of $3.22 billion, a PE ratio of -9.30 and a beta of 1.08. The business's fifty day moving average is $22.35 and its 200 day moving average is $19.36. Zai Lab has a 52 week low of $13.48 and a 52 week high of $36.60.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The company had revenue of $100.50 million during the quarter, compared to analysts' expectations of $94.46 million. Equities analysts predict that Zai Lab will post -2.94 earnings per share for the current fiscal year.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 4,352 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now directly owns 43,232 shares in the company, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.23% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

Several institutional investors have recently made changes to their positions in ZLAB. BNP Paribas Financial Markets lifted its holdings in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company's stock worth $43,000 after purchasing an additional 904 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Zai Lab in the first quarter valued at approximately $64,000. China Universal Asset Management Co. Ltd. boosted its holdings in Zai Lab by 58.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company's stock valued at $231,000 after purchasing an additional 3,514 shares during the period. Swedbank AB purchased a new position in shares of Zai Lab during the 1st quarter valued at $244,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Zai Lab in the second quarter worth $270,000. Hedge funds and other institutional investors 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.