Zai Lab (NASDAQ:ZLAB) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Zai Lab (NASDAQ:ZLAB) in a research note issued to investors on Monday. The firm issued a buy rating and a $52.00 price target on the stock.

ZLAB has been the subject of a number of other reports. Wall Street Zen cut shares of Zai Lab from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Citigroup reissued a “buy” rating and set a $69.00 price target (up from $66.00) on shares of Zai Lab in a research report on Monday, August 11th. Finally, Leerink Partners set a $75.00 price target on shares of Zai Lab and gave the stock an “outperform” rating in a research report on Monday, June 30th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Zai Lab presently has a consensus rating of “Moderate Buy” and an average price target of $56.35.

Zai Lab Stock Down 2.9%

ZLAB stock opened at $34.03 on Monday. The firm has a 50 day moving average of $35.95 and a 200 day moving average of $33.89. The stock has a market capitalization of $3.80 billion, a PE ratio of -16.68 and a beta of 1.03. Zai Lab has a 52 week low of $18.04 and a 52 week high of $44.34.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Thursday, August 7th. The company reported ($0.37) EPS for the quarter, hitting analysts’ consensus estimates of ($0.37). The company had revenue of $109.98 million during the quarter, compared to analysts’ expectations of $125.66 million. Zai Lab had a negative net margin of 49.68% and a negative return on equity of 27.32%. Zai Lab has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, CEO Ying Du sold 46,387 shares of Zai Lab stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $35.47, for a total value of $1,645,346.89. Following the sale, the chief executive officer owned 536,962 shares of the company’s stock, valued at approximately $19,046,042.14. This trade represents a 7.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rafael Amado sold 3,000 shares of Zai Lab stock in a transaction on Friday, August 8th. The shares were sold at an average price of $35.00, for a total transaction of $105,000.00. Following the completion of the sale, the insider directly owned 42,178 shares in the company, valued at $1,476,230. This represents a 6.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,328 shares of company stock worth $7,878,224 over the last 90 days. 4.96% of the stock is owned by insiders.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Zai Lab during the first quarter worth $75,000. Barclays PLC grew its holdings in shares of Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after buying an additional 2,856 shares in the last quarter. Advisors Preferred LLC purchased a new stake in shares of Zai Lab during the first quarter worth $110,000. Finally, Palumbo Wealth Management LLC purchased a new stake in shares of Zai Lab during the first quarter worth $203,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

About Zai Lab

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.