JPMorgan Chase & Co. Increases Zai Lab (NASDAQ:ZLAB) Price Target to $44.00

Zai Lab (NASDAQ:ZLAB) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $38.00 to $44.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 52.67% from the stock’s current price.

Separately, Cantor Fitzgerald reissued an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $57.71.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $28.82 on Monday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $31.22. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -8.26 and a beta of 1.08. The company has a 50-day simple moving average of $21.76 and a 200 day simple moving average of $19.20.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The firm had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. Sell-side analysts forecast that Zai Lab will post -2.94 EPS for the current year.

Insider Activity

In other news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the completion of the transaction, the insider now directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after buying an additional 465,337 shares during the last quarter. M&G Plc acquired a new stake in shares of Zai Lab in the 1st quarter worth about $7,266,000. Russell Investments Group Ltd. lifted its position in Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock valued at $4,706,000 after acquiring an additional 99,355 shares in the last quarter. Swedbank AB bought a new position in Zai Lab in the 1st quarter valued at about $244,000. Finally, DCF Advisers LLC acquired a new position in Zai Lab during the 2nd quarter valued at about $528,000. 41.65% of the stock is owned by institutional investors and hedge funds.

Zai Lab Company Profile

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.