Zai Lab (NASDAQ:ZLAB) Research Coverage Started at UBS Group

UBS Group assumed coverage on shares of Zai Lab (NASDAQ:ZLAB) in a report issued on Wednesday, MarketBeat reports. The firm issued a buy rating and a $35.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Zai Lab has a consensus rating of “Moderate Buy” and a consensus price target of $53.30.

Zai Lab Stock Performance

Shares of Zai Lab stock opened at $18.55 on Wednesday. The business has a 50-day simple moving average of $19.64 and a 200-day simple moving average of $28.59. Zai Lab has a one year low of $16.82 and a one year high of $44.34. The company has a market cap of $2.08 billion, a PE ratio of -9.51 and a beta of 0.83.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Zai Lab had a negative return on equity of 25.83% and a negative net margin of 46.83%.The firm had revenue of $116.10 million during the quarter, compared to analysts’ expectations of $150.24 million. On average, sell-side analysts predict that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Rafael Amado sold 10,787 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total value of $188,017.41. Following the transaction, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. This trade represents a 17.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in shares of Zai Lab by 6.6% during the fourth quarter. SG Americas Securities LLC now owns 10,396 shares of the company’s stock worth $183,000 after purchasing an additional 642 shares in the last quarter. Royal Bank of Canada grew its stake in Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock worth $498,000 after buying an additional 9,390 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Zai Lab during the first quarter worth approximately $1,073,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.