Zai Lab (NASDAQ:ZLAB) Stock Rating Upgraded by Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB) was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Bank of America reissued a “neutral” rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a report on Monday.

Zai Lab Stock Performance

Shares of ZLAB opened at $35.91 on Tuesday. The company has a market capitalization of $3.93 billion, a P/E ratio of -12.96 and a beta of 1.02. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The stock has a 50-day moving average price of $27.92 and a 200 day moving average price of $26.18.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. As a group, equities research analysts forecast that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now owns 494,117 shares in the company, valued at $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Rafael Amado sold 7,583 shares of the company’s 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 in the company, valued at $889,157.52. The trade was a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,127 shares of company stock worth $4,024,442 over the last quarter. 13.88% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently bought and sold shares of ZLAB. Janus Henderson Group PLC raised its position in shares of 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 purchasing an additional 2,232,507 shares during the period. Wellington Management Group LLP raised its position in shares of Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after purchasing an additional 1,312,115 shares during the period. FMR LLC raised its position in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock worth $143,403,000 after purchasing an additional 4,830,646 shares during the period. RTW Investments LP acquired a new stake in shares of Zai Lab during the 4th quarter worth approximately $65,714,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Zai Lab by 30.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock worth $61,653,000 after purchasing an additional 548,378 shares during the period. Institutional investors and hedge funds 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.