Shares of Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $31.13, but opened at $34.16. Zai Lab shares last traded at $35.98, with a volume of 419,580 shares.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on ZLAB. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. JPMorgan Chase & Co. lifted their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday, March 13th. Scotiabank initiated coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price objective for the company. Finally, Bank of America reiterated a "neutral" rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.
View Our Latest Research Report on Zai Lab
Zai Lab Price Performance
The stock has a market cap of $4.20 billion, a P/E ratio of -13.76 and a beta of 0.96. The company has a fifty day moving average of $30.93 and a 200 day moving average of $30.05.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.05. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The firm had revenue of $106.49 million for the quarter, compared to analyst estimates of $118.40 million. As a group, analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.
Insider Transactions at Zai Lab
In related news, insider Frazor Titus Edmondson III sold 4,369 shares of Zai Lab stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total value of $156,803.41. Following the transaction, the insider now owns 27,217 shares of the company's stock, valued at approximately $976,818.13. This trade represents a 13.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ying Du sold 5,808 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $35.89, for a total value of $208,449.12. Following the sale, the chief executive officer now owns 476,046 shares in the company, valued at approximately $17,085,290.94. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,207 shares of company stock valued at $3,880,239 in the last quarter. Insiders own 4.96% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab in the 4th quarter valued at approximately $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab during the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Zai Lab in the first quarter valued at $75,000. Barclays PLC boosted its position in shares of Zai Lab by 337.6% in 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 during the period. Finally, Advisors Preferred LLC purchased a new position in shares of Zai Lab during the first quarter valued at $110,000. 41.65% of the stock is owned by hedge funds and other institutional investors.
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.
Featured Articles
Before you consider Zai Lab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Zai Lab wasn't on the list.
While Zai Lab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
