Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $34.74, but opened at $36.26. Zai Lab shares last traded at $35.13, with a volume of 154,103 shares.
Analysts Set New Price Targets
ZLAB has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of Zai Lab in a research note on Thursday, March 27th. Scotiabank initiated coverage on shares of Zai Lab in a research note on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target on the stock. Leerink Partners lifted their price objective on shares of Zai Lab from $73.00 to $75.00 and gave the stock an "outperform" rating in a research note on Monday. Wall Street Zen downgraded Zai Lab from a "buy" rating to a "hold" rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their target price on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a research note on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Zai Lab presently has an average rating of "Moderate Buy" and a consensus price target of $54.28.
Read Our Latest Report on Zai Lab
Zai Lab Trading Up 0.6%
The firm has a market capitalization of $3.91 billion, a PE ratio of -14.12 and a beta of 0.99. The firm's fifty day moving average price is $33.62 and its 200 day moving average price is $31.22.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.05. The company had revenue of $106.49 million for the quarter, compared to analyst estimates 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, analysts predict that Zai Lab Limited Unsponsored ADR will post -2.58 earnings per share for the current year.
Insider Buying and Selling
In other news, CFO Yajing Chen sold 9,618 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $30.00, for a total transaction of $288,540.00. Following the sale, the chief financial officer owned 17,429 shares of the company's stock, valued at $522,870. This trade represents a 35.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Lis sold 13,814 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the transaction, the director owned 35,106 shares of the company's stock, valued at approximately $1,252,231.02. This represents a 28.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 174,283 shares of company stock valued at $5,455,291 in the last ninety days. Insiders own 4.96% of the company's stock.
Institutional Investors Weigh In On Zai Lab
Several hedge funds have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. purchased a new position in shares of Zai Lab in the 4th quarter valued at about $29,000. Pictet Asset Management Holding SA acquired a new stake in Zai Lab in the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Zai Lab in the first quarter valued at approximately $75,000. Advisors Preferred LLC purchased a new stake in shares of Zai Lab in the first quarter valued at approximately $110,000. Finally, Barclays PLC raised its stake in shares of Zai Lab by 337.6% during the 4th 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. 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.
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