Zai Lab (NASDAQ:ZLAB) had its price objective lifted by investment analysts at SVB Leerink from $183.00 to $192.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. SVB Leerink's price objective would indicate a potential upside of 16.84% from the stock's current price.
A number of other research firms have also recently commented on ZLAB. Guggenheim increased their price target on Zai Lab from $165.00 to $250.00 in a research note on Tuesday, April 13th. Zacks Investment Research cut shares of Zai Lab from a "hold" rating to a "sell" rating in a report on Saturday, February 6th. The Goldman Sachs Group raised their target price on Zai Lab from $205.73 to $211.23 and gave the stock a "buy" rating in a research note on Tuesday, April 13th. Finally, Jefferies Financial Group raised their price objective on Zai Lab from $130.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, February 8th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The company has an average rating of "Buy" and an average price target of $178.71.
NASDAQ:ZLAB opened at $164.33 on Tuesday. The stock has a market capitalization of $14.56 billion, a P/E ratio of -54.23 and a beta of 0.95. Zai Lab has a fifty-two week low of $58.59 and a fifty-two week high of $193.54. The company's 50-day simple moving average is $138.72 and its 200-day simple moving average is $129.71.
In related news, CEO Ying Du sold 50,784 shares of the company's stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $126.19, for a total transaction of $6,408,432.96. Following the sale, the chief executive officer now directly owns 1,008,653 shares of the company's stock, valued at approximately $127,281,922.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kai-Xian Chen sold 4,302 shares of the company's stock in a transaction on Friday, March 12th. The stock was sold at an average price of $142.53, for a total value of $613,164.06. Following the sale, the director now directly owns 24,662 shares in the company, valued at approximately $3,515,074.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,022 shares of company stock worth $9,970,234.
A number of institutional investors have recently modified their holdings of the stock. FIL Ltd increased its holdings in Zai Lab by 34.3% in the fourth quarter. FIL Ltd now owns 231 shares of the company's stock valued at $31,000 after buying an additional 59 shares during the last quarter. Lindbrook Capital LLC raised its stake in Zai Lab by 43.9% during the 4th quarter. Lindbrook Capital LLC now owns 259 shares of the company's stock worth $35,000 after acquiring an additional 79 shares in the last quarter. Signaturefd LLC increased its position in shares of Zai Lab by 77.5% during the fourth quarter. Signaturefd LLC now owns 371 shares of the company's stock worth $50,000 after purchasing an additional 162 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Zai Lab during the 1st quarter worth approximately $30,000. Finally, US Bancorp DE boosted its holdings in shares of Zai Lab by 18.8% in the fourth quarter. US Bancorp DE now owns 2,037 shares of the company's stock valued at $276,000 after acquiring an additional 323 shares during the period. Institutional investors own 81.32% of the company's stock.
About Zai Lab
Zai Lab Limited, a biopharmaceutical company, discovers, licenses, develops, and commercializes therapeutics to treat oncology, autoimmune, and infectious diseases in China. The company offers ZEJULA for the treatment of breast cancer and non-small cell lung cancer (NSCLC); and Optune, a cancer therapy to treat glioblastoma multiforme.
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