Zai Lab Limited (NASDAQ:ZLAB) Given Average Rating of “Buy” by Analysts

Shares of Zai Lab Limited (NASDAQ:ZLAB – Get Rating) have received an average recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $127.00.

ZLAB has been the subject of several research analyst reports. Macquarie initiated coverage on shares of Zai Lab in a research note on Friday, January 21st. They set an “outperform” rating and a $64.00 price target for the company. SVB Leerink decreased their price target on shares of Zai Lab from $102.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday, April 21st. Zacks Investment Research raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research note on Thursday, April 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Zai Lab from $136.00 to $112.00 and set an “overweight” rating for the company in a research note on Monday, April 4th.

Shares of NASDAQ:ZLAB opened at $37.63 on Thursday. Zai Lab has a 1 year low of $25.74 and a 1 year high of $181.92. The business has a 50 day simple moving average of $42.27 and a two-hundred day simple moving average of $59.95. The firm has a market capitalization of $3.63 billion, a PE ratio of -4.92 and a beta of 1.20.

Zai Lab (NASDAQ:ZLAB – Get Rating) last posted its quarterly earnings results on Tuesday, March 1st. The company reported ($2.24) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by ($0.58). Zai Lab had a negative net margin of 488.16% and a negative return on equity of 49.88%. The company had revenue of $44.17 million for the quarter, compared to the consensus estimate of $54.78 million. Analysts expect that Zai Lab will post -4.1 earnings per share for the current fiscal year.

In related news, Director John D. Diekman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 4th. The shares were sold at an average price of $50.17, for a total value of $50,170.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.26% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. EFG Asset Management North America Corp. acquired a new position in shares of Zai Lab during the first quarter worth $2,186,000. Segantii Capital Management Ltd increased its position in shares of Zai Lab by 61.7% during the first quarter. Segantii Capital Management Ltd now owns 2,252,274 shares of the company’s stock worth $99,055,000 after purchasing an additional 859,274 shares in the last quarter. Genesis Investment Management LLP acquired a new position in shares of Zai Lab during the first quarter worth $36,079,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Zai Lab by 138.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 45,213 shares of the company’s stock worth $1,939,000 after purchasing an additional 26,250 shares in the last quarter. Finally, Privium Fund Management UK Ltd acquired a new position in shares of Zai Lab during the fourth quarter worth $14,505,000. 72.65% of the stock is currently 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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