Leerink Partnrs Increases Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB) – Equities research analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Zai Lab in a report released on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now expects that the company will post earnings of ($2.55) per share for the year, up from their prior forecast of ($3.13). The consensus estimate for Zai Lab’s current full-year earnings is ($2.97) per share. Leerink Partnrs also issued estimates for Zai Lab’s Q4 2024 earnings at ($0.75) EPS and FY2025 earnings at ($1.45) EPS.

A number of other analysts also recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research report on Friday, October 25th. JPMorgan Chase & Co. boosted their price objective on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Stock Up 1.5 %

ZLAB stock opened at $27.06 on Friday. The firm has a market capitalization of $2.70 billion, a PE ratio of -9.77 and a beta of 1.04. Zai Lab has a twelve month low of $13.48 and a twelve month high of $36.60. The stock has a 50-day simple moving average of $26.06 and a two-hundred day simple moving average of $21.06.

Institutional Investors Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZLAB. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 51.2% in the first 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. Headlands Technologies LLC bought a new position in Zai Lab in the first quarter valued at about $64,000. Y Intercept Hong Kong Ltd bought a new position in Zai Lab in the third quarter valued at about $225,000. Daiwa Securities Group Inc. lifted its holdings in Zai Lab by 4,851.8% in the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock valued at $231,000 after acquiring an additional 9,364 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock valued at $231,000 after acquiring an additional 3,514 shares during the period. 41.65% of the stock is owned by hedge funds and other 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.