Zai Lab (NASDAQ:ZLAB) Posts Quarterly Earnings Results

Zai Lab (NASDAQ:ZLAB - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $0.38, Zacks reports. The company had revenue of $87.15 million for the quarter, compared to the consensus estimate of $77.07 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. During the same period in the previous year, the firm posted ($0.51) EPS.

Zai Lab Price Performance

Shares of Zai Lab stock traded up $4.44 during trading hours on Thursday, reaching $21.01. The company's stock had a trading volume of 4,133,996 shares, compared to its average volume of 657,803. The firm has a 50 day moving average price of $16.78 and a 200-day moving average price of $22.12. Zai Lab has a one year low of $13.48 and a one year high of $39.50. The stock has a market cap of $2.08 billion, a P/E ratio of -5.97 and a beta of 1.11.

Insider Transactions at Zai Lab

In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares of the company's stock, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares of the company's stock, valued at approximately $449,478.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ying Du sold 5,787 shares of the business's stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total transaction of $93,460.05. Following the completion of the sale, the chief executive officer now directly owns 1,107,972 shares of the company's stock, valued at $17,893,747.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,568 shares of company stock worth $208,508 in the last three months. Insiders own 5.23% of the company's stock.

Analyst Upgrades and Downgrades

ZLAB has been the topic of a number of research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Friday, January 12th. Citigroup reduced their price target on shares of Zai Lab from $123.00 to $66.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $64.22.

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.