Zai Lab (NASDAQ:ZLAB) Price Target Raised to $51.00

Zai Lab (NASDAQ:ZLAB) had its price objective lifted by JPMorgan Chase & Co. from $44.00 to $51.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Scotiabank initiated coverage on Zai Lab in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price on the stock. Bank of America reaffirmed a “neutral” rating and set a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research note on Tuesday, March 4th.

Zai Lab Price Performance

Shares of ZLAB stock opened at $38.20 on Thursday. Zai Lab has a 1 year low of $13.48 and a 1 year high of $39.61. The stock’s 50 day simple moving average is $29.47 and its two-hundred day simple moving average is $27.13. The company has a market cap of $4.19 billion, a PE ratio of -13.79 and a beta of 1.08.

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

Insider Buying and Selling

In related news, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the transaction, the chief executive officer now owns 494,117 shares of the company’s stock, valued at $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rafael Amado sold 7,583 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total value of $199,281.24. Following the sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This trade represents a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,127 shares of company stock valued at $4,024,442 over the last quarter. 13.88% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its position in Zai Lab by 34.2% during the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after acquiring an additional 2,232,507 shares in the last quarter. Wellington Management Group LLP boosted its position in Zai Lab by 18.4% during the 3rd quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after acquiring an additional 1,312,115 shares in the last quarter. FMR LLC lifted its holdings in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after purchasing an additional 4,830,646 shares during the last quarter. RTW Investments LP purchased a new stake in shares of Zai Lab during the 4th quarter valued at $65,714,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Zai Lab by 30.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after purchasing an additional 548,378 shares during the last quarter. Institutional investors own 41.65% of the company’s stock.

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.