Zai Lab (NASDAQ:ZLAB) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Zai Lab (NASDAQ:ZLAB - Free Report) had its price objective upped by JPMorgan Chase & Co. from $44.00 to $51.00 in a report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Bank of America restated a "neutral" rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. Finally, Cantor Fitzgerald upgraded shares of Zai Lab to a "strong-buy" rating in a report on Tuesday, March 4th.

Zai Lab Stock Performance

Shares of Zai Lab stock traded up $0.19 on Thursday, reaching $38.39. The company had a trading volume of 266,944 shares, compared to its average volume of 892,599. The firm has a market cap of $4.21 billion, a PE ratio of -13.86 and a beta of 1.08. The firm's 50 day moving average price is $29.47 and its two-hundred day moving average price is $27.19. Zai Lab has a 52-week low of $13.48 and a 52-week high of $39.61.

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Zai Lab (NASDAQ:ZLAB - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, sell-side analysts predict that Zai Lab will post -2.58 EPS for the current year.

Insiders Place Their Bets

In related news, insider Rafael Amado sold 7,583 shares of the company's stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ying Du sold 50,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total transaction of $1,622,000.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares of the company's stock, valued at approximately $16,029,155.48. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,127 shares of company stock worth $4,024,442 in the last 90 days. Corporate insiders own 13.88% of the company's stock.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently bought and sold shares of ZLAB. FMR LLC raised its position in Zai Lab by 749.1% in the 4th quarter. FMR LLC now owns 5,475,505 shares of the company's stock valued at $143,403,000 after purchasing an additional 4,830,646 shares during the last quarter. RTW Investments LP purchased a new position in Zai Lab during the 4th quarter worth $65,714,000. Janus Henderson Group PLC raised its position in Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company's stock worth $211,488,000 after buying an additional 2,232,507 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Zai Lab during the 4th quarter worth $46,172,000. Finally, Wellington Management Group LLP raised its position in Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company's stock worth $203,660,000 after buying an additional 1,312,115 shares during the last quarter. Hedge funds and other institutional investors 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.