Zai Lab (NASDAQ:ZLAB) PT Lowered to $101.00 at SVB Leerink

Zai Lab (NASDAQ:ZLAB – Get Rating) had its target price reduced by analysts at SVB Leerink from $102.00 to $101.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. SVB Leerink’s target price points to a potential upside of 135.54% from the company’s current price.

Other analysts have also recently issued reports about the company. Macquarie started coverage on Zai Lab in a report on Friday, January 21st. They set an “outperform” rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on Zai Lab from $136.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Finally, Zacks Investment Research raised Zai Lab from a “sell” rating to a “hold” rating in a report on Thursday, April 7th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $127.00.

NASDAQ ZLAB traded down $2.12 during trading hours on Thursday, reaching $42.88. The company’s stock had a trading volume of 9,805 shares, compared to its average volume of 823,488. The company has a market capitalization of $4.13 billion, a price-to-earnings ratio of -5.61 and a beta of 1.20. Zai Lab has a 1 year low of $25.74 and a 1 year high of $181.92. The firm’s 50-day moving average price is $45.27 and its 200-day moving average price is $64.19.

In other Zai Lab news, Director John D. Diekman sold 1,000 shares of Zai Lab stock in a transaction on Friday, February 4th. The stock was sold at an average price of $50.17, for a total value of $50,170.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.26% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Genesis Investment Management LLP acquired a new position in shares of Zai Lab during the 1st quarter worth about $36,079,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Zai Lab by 138.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 45,213 shares of the company’s stock worth $1,939,000 after buying an additional 26,250 shares in the last quarter. Privium Fund Management UK Ltd acquired a new stake in Zai Lab during the 4th quarter valued at $14,505,000. Norges Bank acquired a new stake in Zai Lab during the 4th quarter valued at $41,406,000. Finally, TCG Crossover Management LLC purchased a new position in shares of Zai Lab during the 4th quarter worth $5,971,000. 66.97% of the stock is owned by institutional investors and hedge funds.

Zai Lab Company Profile (Get Rating)

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience primarily in Mainland China and Hong Kong. The company's commercial products include Zejula, a once-daily small-molecule poly polymerase 1/2 inhibitor; Optune, a device that delivers tumor treating fields; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

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