Zai Lab (NASDAQ:ZLAB) Given New $44.00 Price Target at JPMorgan Chase & Co.

Zai Lab (NASDAQ:ZLAB) had its price objective hoisted by JPMorgan Chase & Co. from $38.00 to $44.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zai Lab currently has an average rating of “Buy” and an average price target of $57.71.

Zai Lab Stock Performance

Shares of ZLAB opened at $28.00 on Monday. The firm has a market cap of $2.79 billion, a PE ratio of -8.02 and a beta of 1.08. Zai Lab has a 52-week low of $13.48 and a 52-week high of $31.22. The business’s 50 day moving average price is $21.51 and its two-hundred day moving average price is $19.10.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The company had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Research analysts predict that Zai Lab will post -2.94 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the transaction, the insider now owns 43,232 shares of the company’s stock, valued at $720,677.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. raised its position in Zai Lab by 35.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock worth $1,012,000 after acquiring an additional 16,659 shares during the period. BNP Paribas Financial Markets increased its holdings in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after acquiring an additional 904 shares during the last quarter. GSA Capital Partners LLP boosted its position in Zai Lab by 313.5% during the first quarter. GSA Capital Partners LLP now owns 45,573 shares of the company’s stock worth $730,000 after purchasing an additional 34,552 shares during the period. Headlands Technologies LLC bought a new stake in shares of Zai Lab in the first quarter valued at approximately $64,000. Finally, Russell Investments Group Ltd. boosted its holdings in Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after buying an additional 99,355 shares during the period. 41.65% of the stock is currently owned by institutional investors.

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.