Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $54.28.

Several equities research analysts have weighed in on ZLAB shares. Leerink Partners set a $75.00 target price on shares of Zai Lab and gave the company an "outperform" rating in a research note on Monday. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Wall Street Zen cut Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upped their target price on Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research report on Thursday, March 13th. Finally, Scotiabank began coverage on Zai Lab in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 7,072 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $35.23, for a total value of $249,146.56. Following the sale, the chief executive officer directly owned 536,962 shares of the company's stock, valued at approximately $18,917,171.26. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Lis sold 13,814 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $35.67, for a total value of $492,745.38. Following the transaction, the director directly owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. The trade was a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,898 shares of company stock valued at $5,149,686. Corporate insiders own 4.96% of the company's stock.

Hedge Funds Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZLAB. Acadian Asset Management LLC acquired a new stake in Zai Lab in the 1st quarter worth about $1,073,000. MPM Bioimpact LLC lifted its position in shares of Zai Lab by 4.2% in the first quarter. MPM Bioimpact LLC now owns 833,659 shares of the company's stock valued at $30,128,000 after acquiring an additional 33,659 shares in the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in shares of Zai Lab in the first quarter worth approximately $12,649,000. Cubist Systematic Strategies LLC increased its position in shares of Zai Lab by 29.0% during the first quarter. Cubist Systematic Strategies LLC now owns 93,645 shares of the company's stock worth $3,384,000 after purchasing an additional 21,026 shares in the last quarter. Finally, Royal Bank of Canada raised 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 valued at $498,000 after purchasing an additional 9,390 shares during the last quarter. 41.65% of the stock is owned by hedge funds and other institutional investors.

Zai Lab Stock Up 2.6%

Shares of NASDAQ ZLAB traded up $0.94 during midday trading on Monday, reaching $36.43. 581,960 shares of the company's stock traded hands, compared to its average volume of 911,726. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -14.63 and a beta of 0.99. The stock's 50 day simple moving average is $33.71 and its 200-day simple moving average is $31.32. Zai Lab has a one year low of $16.01 and a one year high of $44.34.

Zai Lab (NASDAQ:ZLAB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. The firm had revenue of $106.49 million during the quarter, compared to analysts' expectations of $118.40 million. Zai Lab had a negative return on equity of 33.35% and a negative net margin of 60.26%. Equities analysts predict that Zai Lab will post -2.58 EPS for the current fiscal year.

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.