Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $37.33, but opened at $35.33. Zai Lab shares last traded at $35.27, with a volume of 73,020 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank started coverage on Zai Lab in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company. Cantor Fitzgerald raised Zai Lab to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th.
Get Our Latest Research Report on ZLAB
Zai Lab Price Performance
The firm has a market cap of $3.88 billion, a PE ratio of -12.78 and a beta of 1.08. The stock's fifty day simple moving average is $30.91 and its 200-day simple moving average is $27.92.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued 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 firm had revenue of $109.07 million during the quarter, compared to analysts' expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. Analysts expect that Zai Lab Limited will post -2.58 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 494,117 shares in the company, valued at $16,029,155.48. This represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rafael Amado sold 3,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. This represents a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,127 shares of company stock valued at $4,139,672 over the last quarter. 13.88% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Zai Lab
Institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in Zai Lab during the fourth quarter valued at $29,000. Pictet Asset Management Holding SA purchased a new stake in shares of Zai Lab during the 4th quarter worth about $31,000. Barclays PLC grew its position in shares of Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares during the period. US Bancorp DE increased its stake in shares of Zai Lab by 1,671.9% in the 4th quarter. US Bancorp DE now owns 5,865 shares of the company's stock valued at $154,000 after purchasing an additional 5,534 shares in the last quarter. Finally, Jasper Ridge Partners L.P. acquired a new position in Zai Lab in the 4th quarter worth about $210,000. 41.65% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Stories
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
