Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Zai Lab, with four buy ratings, one strong buy, one hold and one sell among seven analysts. The average 12-month price target is $37.25.
• Zai Lab shares opened at $26.08, with a market capitalization of approximately $2.97 billion, after recently trading down 2.8%. The company reported a quarterly loss of $0.50 per share on $106.31 million in revenue.
• Institutional ownership stands at 41.65%, with several investors increasing their positions, while insiders sold 50,258 shares worth about $960,741 during the latest quarter.

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) has been given an average rating of "Moderate Buy" by the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $37.25.

A number of brokerages have commented on ZLAB. Wall Street Zen downgraded shares of Zai Lab from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. Zacks Research upgraded shares of Zai Lab from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Citigroup lifted their price objective on shares of Zai Lab from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Zai Lab from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 29th.

Zai Lab Trading Down 2.8%

Shares of NASDAQ:ZLAB opened at $26.08 on Friday. The company has a market capitalization of $2.97 billion, a PE ratio of -15.25 and a beta of 0.78. Zai Lab has a 12-month low of $15.96 and a 12-month high of $34.72. The business's fifty day simple moving average is $21.30 and its 200-day simple moving average is $20.12.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%.The company had revenue of $106.31 million for the quarter. Research analysts predict that Zai Lab will post -2.17 EPS for the current year.

Insider Activity

In related news, CFO Yajing Chen sold 2,264 shares of the business's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $39,529.44. Following the transaction, the chief financial officer directly owned 35,691 shares in the company, valued at $623,164.86. The trade was a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 8,506 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $25.00, for a total value of $212,650.00. Following the transaction, the director directly owned 41,931 shares in the company, valued at $1,048,275. This represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 50,258 shares of company stock worth $960,741. Insiders own 4.88% of the company's stock.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently modified their holdings of the business. Seven Fleet Capital Management LP increased its holdings in shares of Zai Lab by 74.7% during the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company's stock valued at $2,584,000 after acquiring an additional 58,158 shares in the last quarter. Headlands Technologies LLC boosted its stake in Zai Lab by 142.0% in the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company's stock worth $1,292,000 after purchasing an additional 39,901 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Zai Lab by 214.3% in the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company's stock worth $498,000 after purchasing an additional 9,390 shares in the last quarter. Hedge funds and other institutional investors own 41.65% of the company's stock.

About Zai Lab

Zai Lab Ltd NASDAQ: ZLAB is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company's end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company's marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton's tyrosine kinase inhibitor approved for several B-cell malignancies.

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