Cantor Fitzgerald Reaffirms “Overweight” Rating for Zai Lab (NASDAQ:ZLAB)

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other equities analysts have also weighed in on ZLAB. Bank of America reissued 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. Scotiabank started coverage on shares of Zai Lab in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th.

Zai Lab Stock Up 3.1 %

NASDAQ:ZLAB opened at $37.29 on Thursday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $39.77. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of -13.46 and a beta of 1.08. The company’s 50 day moving average price is $31.76 and its 200-day moving average price is $28.25.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The business had revenue of $109.07 million during the quarter, compared to the consensus estimate of $110.15 million. As a group, sell-side analysts anticipate that Zai Lab will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In other news, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated 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 trade represents a 9.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 125,127 shares of company stock worth $4,139,672 in the last three months. 13.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zai Lab

Several large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the fourth quarter worth about $29,000. Public Employees Retirement System of Ohio grew its holdings in Zai Lab by 20.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock valued at $484,000 after buying an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Zai Lab by 2.1% during 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 lifted its holdings in shares of Zai Lab by 9.4% in the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock worth $46,089,000 after buying an additional 151,835 shares in the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Zai Lab during the fourth quarter worth $7,857,000. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.