Zai Lab Limited (NASDAQ:ZLAB – Get Free Report) hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $51.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Zai Lab traded as high as $39.61 and last traded at $38.90, with a volume of 220695 shares. The stock had previously closed at $36.14.
Several other analysts have also recently weighed in on the company. Scotiabank assumed coverage on Zai Lab in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target for the company. Bank of America reissued a “neutral” rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Finally, Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a report on Tuesday, March 4th.
Check Out Our Latest Research Report on Zai Lab
Insider Buying and Selling at Zai Lab
Hedge Funds Weigh In On Zai Lab
A number of institutional investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. acquired a new position in shares of Zai Lab during the 4th quarter worth $29,000. Pictet Asset Management Holding SA acquired a new position in shares of Zai Lab during the 4th quarter worth $31,000. Barclays PLC raised its holdings in shares of Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after buying an additional 2,856 shares in the last quarter. US Bancorp DE raised its holdings in shares of Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after buying an additional 5,534 shares in the last quarter. Finally, Jasper Ridge Partners L.P. acquired a new position in shares of Zai Lab during the 4th quarter worth $210,000. Institutional investors and hedge funds own 41.65% of the company’s stock.
Zai Lab Stock Performance
The company has a market cap of $4.19 billion, a price-to-earnings ratio of -13.79 and a beta of 1.08. The business has a fifty day moving average price of $29.47 and a 200 day moving average price of $27.08.
Zai Lab (NASDAQ:ZLAB – Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The firm had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, equities analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
About Zai Lab
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.
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