Zai Lab (NASDAQ:ZLAB) Shares Up 6.5% – Still a Buy?

Zai Lab Limited (NASDAQ:ZLAB) traded up 6.5% during mid-day trading on Friday . The stock traded as high as $28.80 and last traded at $28.07. 149,807 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 634,141 shares. The stock had previously closed at $26.36.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ZLAB. JPMorgan Chase & Co. dropped their price objective on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Zai Lab has a consensus rating of “Buy” and a consensus price target of $56.21.

Zai Lab Price Performance

The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -7.88 and a beta of 1.08. The business’s 50-day moving average price is $21.28 and its two-hundred day moving average price is $18.99.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The business had revenue of $100.50 million during the quarter, compared to analyst estimates of $94.46 million. As a group, sell-side analysts forecast that Zai Lab Limited will post -2.95 earnings per share for the current year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of large investors have recently bought and sold shares of ZLAB. BNP Paribas Financial Markets increased its holdings in shares of Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Zai Lab during the first quarter worth about $64,000. Swedbank AB purchased a new position in shares of Zai Lab in the 1st quarter worth about $244,000. Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab in the 2nd quarter valued at about $270,000. Finally, Tidal Investments LLC purchased a new stake in shares of Zai Lab during the 1st quarter worth about $334,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.