Zai Lab (NASDAQ:ZLAB) Receives “Neutral” Rating from Bank of America

Bank of America restated their neutral rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a $36.10 target price on the stock, up from their previous target price of $29.00.

Separately, Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a report on Wednesday, February 5th.

Zai Lab Stock Down 8.4 %

Shares of NASDAQ ZLAB opened at $31.73 on Monday. Zai Lab has a twelve month low of $13.48 and a twelve month high of $36.60. The stock’s 50 day moving average price is $27.67 and its 200-day moving average price is $25.96. The company has a market capitalization of $3.47 billion, a PE ratio of -11.45 and a beta of 1.02.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results 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). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. As a group, research analysts expect that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the sale, the insider now owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. bought a new stake in Zai Lab during the 4th quarter valued at $29,000. Pictet Asset Management Holding SA bought a new stake in Zai Lab during the 4th quarter valued at $31,000. Barclays PLC raised its holdings in Zai Lab by 337.6% during the 4th quarter. Barclays PLC now owns 3,702 shares of the company’s stock valued at $97,000 after acquiring an additional 2,856 shares during the period. US Bancorp DE raised its holdings in Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after acquiring an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. bought a new stake in Zai Lab during the 4th quarter valued at $210,000. Institutional investors own 41.65% of the company’s stock.

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.