Zai Lab FY2024 EPS Forecast Raised by Cantor Fitzgerald

Zai Lab Limited (NASDAQ:ZLAB) – Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Zai Lab in a report issued on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of ($2.54) for the year, up from their prior estimate of ($3.16). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.73) per share.

Separately, JPMorgan Chase & Co. raised their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Stock Up 3.9 %

Shares of ZLAB opened at $26.15 on Monday. Zai Lab has a 52-week low of $13.48 and a 52-week high of $36.60. The stock has a fifty day simple moving average of $26.17 and a two-hundred day simple moving average of $21.19. The company has a market capitalization of $2.60 billion, a PE ratio of -9.44 and a beta of 1.04.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Zai Lab in the third quarter worth approximately $225,000. China Universal Asset Management Co. Ltd. raised its stake in Zai Lab by 58.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock valued at $231,000 after buying an additional 3,514 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Zai Lab by 4,851.8% during the third quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after purchasing an additional 9,364 shares during the last quarter. Finally, RBF Capital LLC acquired a new position in shares of Zai Lab in the 3rd quarter valued at $241,000. Institutional investors and hedge funds 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.