Zai Lab (NASDAQ:ZLAB) Given New $32.00 Price Target at JPMorgan Chase & Co.

Zai Lab (NASDAQ:ZLAB) had its price target lowered by JPMorgan Chase & Co. from $39.00 to $32.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also weighed in on ZLAB. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a research report on Monday, January 19th. Zacks Research lowered Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. UBS Group assumed coverage on Zai Lab in a research note on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald cut their target price on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Zai Lab Stock Down 1.0%

ZLAB opened at $18.83 on Wednesday. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The business has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $22.84. The firm has a market cap of $2.12 billion, a P/E ratio of -11.70 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data 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 firm had revenue of $127.60 million during the quarter, compared to analysts’ expectations of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Sell-side analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, CFO Yajing Chen sold 1,703 shares of Zai Lab stock in a transaction on Friday, March 13th. The shares were sold at an average price of $18.63, for a total value of $31,726.89. Following the transaction, the chief financial officer directly owned 19,999 shares in the company, valued at $372,581.37. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the transaction, the insider directly owned 52,391 shares in the company, valued at $913,175.13. This represents a 17.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,413 shares of company stock worth $311,460 in the last quarter. Company insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC purchased a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,754 shares of the company’s stock, valued at approximately $331,000. 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.