JPMorgan Chase & Co. Has Lowered Expectations for Zai Lab (NASDAQ:ZLAB) Stock Price

Zai Lab (NASDAQ:ZLAB) had its target price reduced by JPMorgan Chase & Co. from $46.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 116.67% from the stock’s previous close.

ZLAB has been the subject of several other research reports. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Finally, UBS Group began coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

Zai Lab Trading Up 6.0%

ZLAB stock opened at $18.00 on Thursday. The firm has a 50 day moving average of $18.11 and a 200-day moving average of $26.17. The firm has a market capitalization of $2.02 billion, a P/E ratio of -9.23 and a beta of 0.88. Zai Lab has a 12 month low of $15.96 and a 12 month high of $44.34.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share 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 for the quarter, compared to the consensus estimate of $150.24 million. Sell-side analysts predict that Zai Lab will post -2.58 EPS for the current year.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the sale, the insider owned 52,391 shares of the company’s stock, valued at $913,175.13. This represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada raised its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

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.