Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives $51.17 Consensus PT from Analysts

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) have been given an average rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $51.1667.

Several research analysts recently issued reports on the company. Zacks Research cut Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. UBS Group initiated coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective on the stock. Cantor Fitzgerald reduced their target price on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the stock in a transaction dated 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 sale, the insider owned 52,391 shares in the company, valued at approximately $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

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,771 shares of the company’s stock after acquiring 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. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Price Performance

ZLAB opened at $19.12 on Friday. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $44.34. The firm has a market capitalization of $2.16 billion, a PE ratio of -11.88 and a beta of 0.85. The company’s 50-day moving average is $18.54 and its 200 day moving average is $23.49.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). The company had revenue of $127.60 million for the quarter, compared to analyst estimates of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. As a group, analysts expect that Zai Lab will post -2.58 EPS for the current year.

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.