Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $16.57, but opened at $20.05. Zai Lab shares last traded at $20.79, with a volume of 737,974 shares changing hands.
The company reported ($0.55) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.93) by $0.38. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The company had revenue of $87.15 million during the quarter, compared to analysts' expectations of $77.07 million. During the same period last year, the company posted ($0.51) EPS.
Analyst Ratings Changes
A number of research firms have recently commented on ZLAB. Citigroup cut their target price on Zai Lab from $123.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, February 29th. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Friday, January 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $64.22.
Read Our Latest Stock Analysis on Zai Lab
Insider Activity at Zai Lab
In other news, CEO Ying Du sold 5,787 shares of the company'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 owns 1,107,972 shares of the company's stock, valued at approximately $17,893,747.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the business's stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the sale, the insider now owns 20,093 shares of the company's stock, valued at $378,953.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ying Du sold 5,787 shares of the firm's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the completion of the transaction, the chief executive officer now directly owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,568 shares of company stock worth $208,508. 5.23% of the stock is owned by insiders.
Institutional Investors Weigh In On Zai Lab
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZLAB. Wellington Management Group LLP increased its stake in shares of Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company's stock worth $145,845,000 after purchasing an additional 3,413,829 shares in the last quarter. Brilliance Asset Management Ltd. grew its holdings in shares of Zai Lab by 177.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 435,926 shares of the company's stock valued at $11,914,000 after purchasing an additional 278,841 shares in the last quarter. Hsbc Holdings PLC grew its position in Zai Lab by 251.1% in the third quarter. Hsbc Holdings PLC now owns 327,781 shares of the company's stock worth $7,968,000 after acquiring an additional 234,431 shares in the last quarter. UBS Group AG increased its position in shares of Zai Lab by 312.4% during the 3rd quarter. UBS Group AG now owns 288,981 shares of the company's stock valued at $7,025,000 after purchasing an additional 218,907 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Zai Lab by 26.1% during the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company's stock valued at $18,571,000 after acquiring an additional 140,461 shares during the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.
Zai Lab Trading Up 26.8 %
The company has a market capitalization of $2.08 billion, a PE ratio of -6.09 and a beta of 1.11. The stock's 50-day moving average is $16.78 and its two-hundred day moving average is $22.11.
About Zai Lab
(
Get Free Report)
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.
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