FY2024 EPS Estimates for Zai Lab Increased by Analyst

Zai Lab Limited (NASDAQ:ZLAB) – Research analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Zai Lab in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings per share of ($2.54) for the year, up from their prior forecast of ($3.16). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.73) per share.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

Zai Lab Trading Up 1.5 %

ZLAB stock opened at $27.06 on Monday. The firm has a 50 day simple moving average of $26.06 and a 200-day simple moving average of $21.10. The company has a market capitalization of $2.70 billion, a P/E 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.

Institutional Investors Weigh In On Zai Lab

Several institutional investors and hedge funds have recently bought and sold shares of ZLAB. Janus Henderson Group PLC grew its stake in Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after buying an additional 2,232,507 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after purchasing an additional 1,312,115 shares during the period. Capital World Investors grew its position in Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares in the last quarter. Bamco Inc. NY raised its position in shares of Zai Lab by 6.4% during the 3rd quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock worth $46,023,000 after buying an additional 113,869 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after acquiring an additional 125,532 shares in the last quarter. Institutional investors and hedge funds 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.