Zai Lab Limited (NASDAQ:ZLAB - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $41.40, but opened at $42.39. Zai Lab shares last traded at $43.42, with a volume of 284,453 shares.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on ZLAB. Cantor Fitzgerald reissued an "overweight" rating on shares of Zai Lab in a report on Thursday, March 27th. Bank of America reissued a "neutral" rating and issued a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Scotiabank began coverage on Zai Lab in a report on Friday, March 7th. They issued a "sector outperform" rating and a $55.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Zai Lab from $44.00 to $51.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th.
Check Out Our Latest Stock Report on Zai Lab
Zai Lab Stock Down 4.7%
The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -14.80 and a beta of 0.96. The company has a 50 day moving average of $31.78 and a 200 day moving average of $30.54.
Zai Lab (NASDAQ:ZLAB - Get Free Report) last released its 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 firm had revenue of $106.49 million during the quarter, compared to analyst estimates of $118.40 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, research analysts forecast that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.
Insider Activity at Zai Lab
In related news, insider Rafael Amado sold 3,000 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the completion of the transaction, the insider now directly owns 30,834 shares in the company, valued at approximately $1,184,333.94. This represents a 8.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ying Du sold 46,389 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $28.09, for a total value of $1,303,067.01. Following the sale, the chief executive officer now directly owns 479,851 shares of the company's stock, valued at approximately $13,479,014.59. This trade represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 130,207 shares of company stock worth $3,880,239. 4.96% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Zai Lab
Institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new stake in Zai Lab during the fourth quarter valued at about $29,000. Pictet Asset Management Holding SA purchased a new stake in Zai Lab during the fourth quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Zai Lab during the first quarter valued at about $75,000. Barclays PLC grew its position in Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company's stock valued at $97,000 after acquiring an additional 2,856 shares during the period. Finally, Advisors Preferred LLC purchased a new stake in Zai Lab during the first quarter valued at about $110,000. Hedge funds and other institutional investors own 41.65% of the company's stock.
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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