Cantor Fitzgerald Lowers Zai Lab (NASDAQ:ZLAB) Price Target to $37.00

Zai Lab (NASDAQ:ZLAB) had its price objective reduced by equities research analysts at Cantor Fitzgerald from $55.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 92.51% from the company’s previous close.

A number of other equities analysts have also commented on ZLAB. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. UBS Group assumed coverage on Zai Lab in a research note on Wednesday, January 7th. They issued a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Zai Lab has a consensus rating of “Moderate Buy” and a consensus price target of $49.76.

Zai Lab Stock Down 2.4%

NASDAQ ZLAB opened at $19.22 on Friday. The company has a market cap of $2.17 billion, a PE ratio of -11.94 and a beta of 0.88. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The firm’s 50-day simple moving average is $18.44 and its two-hundred day simple moving average is $24.24.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02). The business had revenue of $127.60 million during the quarter, compared to the consensus estimate of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.29%. As a group, equities research analysts anticipate that Zai Lab will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 52,391 shares of the company’s stock, valued at $913,175.13. The trade was a 17.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC lifted its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.