Analysts Offer Predictions for Zai Lab FY2024 Earnings

Zai Lab Limited (NASDAQ:ZLAB) – Research analysts at Leerink Partnrs upped their FY2024 earnings per share estimates for Zai Lab in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now forecasts that the company will post earnings of ($2.55) per share for the year, up from their previous estimate of ($3.13). The consensus estimate for Zai Lab’s current full-year earnings is ($2.84) per share. Leerink Partnrs also issued estimates for Zai Lab’s Q4 2024 earnings at ($0.75) EPS and FY2025 earnings at ($1.45) EPS.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $27.06 on Friday. The company has a market capitalization of $2.70 billion, a PE ratio of -9.77 and a beta of 1.04. The business’s fifty day moving average is $26.06 and its 200 day moving average is $21.10. Zai Lab has a 52-week low of $13.48 and a 52-week high of $36.60.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in shares of Zai Lab by 26.4% in the third quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock worth $1,053,000 after purchasing an additional 9,107 shares during the period. M&T Bank Corp raised its position in Zai Lab by 9.6% during the third quarter. M&T Bank Corp now owns 25,188 shares of the company’s stock valued at $608,000 after purchasing an additional 2,209 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Zai Lab in the 3rd quarter valued at approximately $369,000. Y Intercept Hong Kong Ltd bought a new stake in Zai Lab in the third quarter worth $225,000. Finally, XTX Topco Ltd increased its position in Zai Lab by 8.0% during the third quarter. XTX Topco Ltd now owns 31,618 shares of the company’s stock valued at $763,000 after acquiring an additional 2,335 shares during the last quarter. Institutional investors own 41.65% of the company’s stock.

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.