Zai Lab (NASDAQ:ZLAB) Price Target Raised to $75.00

Zai Lab (NASDAQ:ZLAB - Free Report) had its price target lifted by Leerink Partners from $73.00 to $75.00 in a report released on Monday,Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Several other research firms have also weighed in on ZLAB. Bank of America reissued a "neutral" rating and issued a $36.10 price objective (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Wall Street Zen lowered Zai Lab from a "buy" rating to a "hold" rating in a research note on Friday. Scotiabank began coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price objective for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $54.28.

Zai Lab Trading Up 0.7%

NASDAQ:ZLAB traded up $0.23 on Monday, reaching $34.97. 847,285 shares of the stock traded hands, compared to its average volume of 909,132. Zai Lab has a 1-year low of $16.01 and a 1-year high of $44.34. The company's 50 day moving average is $33.57 and its 200-day moving average is $31.19. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of -14.04 and a beta of 0.96.

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

Insider Transactions at Zai Lab

In other Zai Lab news, CEO Ying Du sold 23,669 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $36.13, for a total transaction of $855,160.97. Following the transaction, the chief executive officer owned 514,982 shares in the company, valued at approximately $18,606,299.66. This represents a 4.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Yajing Chen sold 2,675 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $36.13, for a total transaction of $96,647.75. Following the completion of the transaction, the chief financial officer directly owned 21,004 shares in the company, valued at $758,874.52. This trade represents a 11.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,365 shares of company stock worth $5,209,564. 4.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in Zai Lab during the 4th quarter valued at about $29,000. Pictet Asset Management Holding SA bought a new position in shares of Zai Lab in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Zai Lab in the first quarter valued at approximately $75,000. Advisors Preferred LLC purchased a new position in shares of Zai Lab during the first quarter valued at approximately $110,000. Finally, Barclays PLC grew its holdings in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock worth $97,000 after buying an additional 2,856 shares in the last quarter. 41.65% of the stock is owned by institutional investors.

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.