Zai Lab (NASDAQ:ZLAB) was upgraded by equities researchers at BidaskClub from a "sell" rating to a "hold" rating in a report released on Wednesday, BidAskClub reports.
Several other research analysts have also recently weighed in on the stock. SVB Leerink increased their price target on shares of Zai Lab from $93.00 to $95.00 and gave the company an "outperform" rating in a report on Thursday, September 10th. Zacks Investment Research upgraded shares of Zai Lab from a "sell" rating to a "hold" rating in a research report on Wednesday, September 9th. Finally, Guggenheim increased their target price on shares of Zai Lab from $105.00 to $111.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. The stock presently has an average rating of "Buy" and a consensus target price of $93.25.
Zai Lab stock opened at $78.80 on Wednesday. The stock has a market cap of $4.58 billion, a P/E ratio of -26.01 and a beta of 0.98. Zai Lab has a twelve month low of $29.43 and a twelve month high of $89.48. The company's 50-day moving average price is $78.72 and its two-hundred day moving average price is $69.31.
Large investors have recently made changes to their positions in the business. Nuveen Asset Management LLC acquired a new position in shares of Zai Lab during the 1st quarter worth approximately $3,248,000. Deutsche Bank AG boosted its position in shares of Zai Lab by 356.5% during the 1st quarter. Deutsche Bank AG now owns 107,858 shares of the company's stock worth $5,552,000 after acquiring an additional 84,230 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Zai Lab by 136.4% during the 1st quarter. Alliancebernstein L.P. now owns 32,265 shares of the company's stock worth $1,661,000 after acquiring an additional 18,615 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Zai Lab by 1,742.8% during the 1st quarter. Legal & General Group Plc now owns 154,129 shares of the company's stock worth $7,935,000 after acquiring an additional 145,765 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Zai Lab by 579,845.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 63,794 shares of the company's stock worth $3,284,000 after acquiring an additional 63,783 shares in the last quarter. Hedge funds and other institutional investors own 81.32% of the company's stock.
Zai Lab Company Profile
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.
Further Reading: Growth Stocks
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6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
In July 2019, the doves got their wish. But in a move that now seems to be a “what did they know move”, the Fed dropped rates again in October. The market soared to record highs in January and early February. Since mid-February however, the market has fallen dramatically, and the Fed juiced the market one more time by cutting rates down to levels not seen since the financial crisis.
None of us know for sure when the U.S. economy will be opened up. And while stocks are still a good investment, not every stock is a smart investment at this time. But some stocks perform well when interest rates are falling and that’s why we’ve prepared this presentation.
These six stocks stand to benefit from both low-interest rates and the unique economic conditions being brought on by the Covid-19 pandemic.
View the "6 Stocks That Will Benefit From a Dovish Federal Reserve".