Zai Lab (NASDAQ:ZLAB – Get Rating) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ($0.86) for the period, compared to the consensus earnings per share estimate of ($1.23). The company issued revenue guidance of $46.7 million, compared to the consensus revenue estimate of $45.72 million.
A number of analysts have weighed in on ZLAB shares. JPMorgan Chase & Co. dropped their target price on shares of Zai Lab from $136.00 to $112.00 and set an overweight rating on the stock in a report on Monday, April 4th. Macquarie began coverage on shares of Zai Lab in a report on Friday, January 21st. They issued an outperform rating and a $64.00 target price on the stock. Zacks Investment Research raised Zai Lab from a sell rating to a hold rating in a report on Thursday, April 7th. Finally, SVB Leerink dropped their price target on Zai Lab from $102.00 to $101.00 and set an outperform rating on the stock in a research report on Thursday, April 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Buy and an average price target of $127.00.
NASDAQ ZLAB opened at $26.24 on Wednesday. The company has a 50-day moving average price of $40.32 and a two-hundred day moving average price of $57.68. Zai Lab has a 52 week low of $24.80 and a 52 week high of $181.92. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -3.43 and a beta of 1.20.
Large investors have recently modified their holdings of the company. Privium Fund Management UK Ltd acquired a new position in shares of Zai Lab during the fourth quarter valued at approximately $14,505,000. Goldman Sachs Group Inc. boosted its stake in Zai Lab by 70.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 431,243 shares of the company’s stock valued at $27,104,000 after purchasing an additional 177,639 shares in the last quarter. Legal & General Group Plc increased its position in shares of Zai Lab by 25.7% during the 4th quarter. Legal & General Group Plc now owns 566,035 shares of the company’s stock valued at $35,575,000 after purchasing an additional 115,609 shares during the period. Millennium Management LLC raised its stake in shares of Zai Lab by 46.8% in the 4th quarter. Millennium Management LLC now owns 153,412 shares of the company’s stock worth $9,642,000 after buying an additional 48,941 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Zai Lab by 132.6% in the fourth quarter. Parametric Portfolio Associates LLC now owns 77,126 shares of the company’s stock valued at $4,847,000 after buying an additional 43,962 shares during the period. 72.65% of the stock is owned by institutional investors.
About Zai Lab (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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