Zai Lab Limited (NASDAQ:ZLAB - Get Free Report)'s stock price hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $51.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Zai Lab traded as high as $39.61 and last traded at $38.90, with a volume of 220695 shares changing hands. The stock had previously closed at $36.14.
Several other equities research analysts have also issued reports on ZLAB. Cantor Fitzgerald raised shares of Zai Lab to a "strong-buy" rating in a report on Tuesday, March 4th. Scotiabank initiated 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 on the stock. Finally, Bank of America reaffirmed a "neutral" rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.
View Our Latest Stock Report on Zai Lab
Insiders Place Their Bets
In other news, CEO Ying Du sold 50,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $32.44, for a total value of $1,622,000.00. Following the transaction, the chief executive officer now owns 494,117 shares in the company, valued at approximately $16,029,155.48. The trade was a 9.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frazor Titus Edmondson III sold 14,544 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $32.98, for a total transaction of $479,661.12. Following the completion of the sale, the insider now owns 14,328 shares of the company's stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,127 shares of company stock valued at $4,024,442 in the last ninety days. 13.88% of the stock is currently owned by insiders.
Institutional Trading of Zai Lab
Several institutional investors have recently made changes to their positions in ZLAB. GF Fund Management CO. LTD. bought a new position in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA bought a new position in Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company's stock worth $1,496,000 after purchasing an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company's stock worth $290,000 after purchasing an additional 1,502 shares during the period. Finally, Invesco Ltd. boosted its position in Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company's stock worth $1,161,000 after purchasing an additional 1,790 shares during the period. Institutional investors own 41.65% of the company's stock.
Zai Lab Stock Down 1.1 %
The stock has a market cap of $4.16 billion, a P/E ratio of -13.69 and a beta of 1.08. The business's 50-day simple moving average is $29.73 and its two-hundred day simple moving average is $27.32.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The firm had revenue of $109.07 million for the quarter, compared to analysts' expectations of $110.15 million. Analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.
About Zai Lab
(
Get Free Report)
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.
See Also
Before you consider Zai Lab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zai Lab wasn't on the list.
While Zai Lab currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
