Zai Lab (NASDAQ:ZLAB) Price Target Raised to $51.00 at JPMorgan Chase & Co.

by · The Markets Daily

Zai Lab (NASDAQ:ZLAB – Get Free Report) had its price target raised by research analysts at JPMorgan Chase & Co. from $44.00 to $51.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 41.12% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on ZLAB. Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a research note on Tuesday, March 4th. Scotiabank assumed coverage on 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. Finally, Bank of America reiterated a “neutral” rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

View Our Latest Stock Analysis on Zai Lab

Zai Lab Trading Up 2.0 %

Zai Lab stock traded up $0.71 during mid-day trading on Thursday, hitting $36.14. The company’s stock had a trading volume of 428,620 shares, compared to its average volume of 749,402. The stock’s fifty day moving average is $28.99 and its two-hundred day moving average is $26.88. The firm has a market capitalization of $3.96 billion, a PE ratio of -13.05 and a beta of 1.08. Zai Lab has a 1 year low of $13.48 and a 1 year high of $37.99.

Zai Lab (NASDAQ:ZLAB – Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. On average, equities analysts expect that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $32.44, for a total value of $1,622,000.00. Following the sale, the chief executive officer now owns 494,117 shares of the company’s stock, valued at $16,029,155.48. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the completion of the transaction, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. The trade was a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,127 shares of company stock valued at $4,024,442 in the last 90 days. Company insiders own 13.88% of the company’s stock.

Institutional Trading of Zai Lab

Several hedge funds have recently added to or reduced their stakes 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. Public Employees Retirement System of Ohio grew its stake in shares of Zai Lab by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock worth $484,000 after purchasing an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Zai Lab by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after buying an additional 1,200 shares during the last quarter. Woodline Partners LP raised its stake in Zai Lab by 9.4% in the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock valued at $46,089,000 after buying an additional 151,835 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new stake in shares of Zai Lab during the 4th quarter worth about $7,857,000. Institutional investors and hedge funds 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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