Zai Lab (NASDAQ:ZLAB) Earns Sector Outperform Rating from Analysts at Scotiabank

Scotiabank started coverage on shares of Zai Lab (NASDAQ:ZLAB - Get Free Report) in a report issued on Friday, Marketbeat reports. The firm set a "sector outperform" rating and a $55.00 price target on the stock. Scotiabank's target price would indicate a potential upside of 51.02% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on the stock. Bank of America restated a "neutral" rating and set a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Cantor Fitzgerald upgraded shares of Zai Lab to a "strong-buy" rating in a research note on Tuesday.

Zai Lab Stock Up 2.9 %

ZLAB stock traded up $1.03 during mid-day trading on Friday, reaching $36.42. The company had a trading volume of 1,312,257 shares, compared to its average volume of 751,030. The stock has a market capitalization 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. The stock's 50-day simple moving average is $28.46 and its two-hundred day simple moving average is $26.45.

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

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Insider Activity at Zai Lab

In related news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the transaction, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,127 shares of company stock worth $4,024,442 over the last ninety days. 13.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. acquired a new position in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA acquired a new position in Zai Lab during the fourth quarter worth about $31,000. Barclays PLC grew its holdings in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after acquiring an additional 2,856 shares during the period. US Bancorp DE grew its holdings in Zai Lab by 1,671.9% during the fourth quarter. US Bancorp DE now owns 5,865 shares of the company's stock worth $154,000 after acquiring an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. purchased a new position in Zai Lab in the 4th quarter worth about $210,000. 41.65% of the stock is owned by institutional investors and hedge funds.

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.