Analysts Set Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Price Target at $50.00
by Teresa Graham · The Cerbat GemShares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Get Free Report) have been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $50.00.
ZLAB has been the subject of several research reports. Zacks Research downgraded Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. UBS Group assumed coverage on Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. Cantor Fitzgerald cut their target price on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. reduced their price target on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th.
Read Our Latest Research Report on Zai Lab
Insider Buying and Selling
In other news, insider Joshua L. Smiley sold 9,614 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $20.39, for a total value of $196,029.46. Following the transaction, the insider owned 120,619 shares of the company’s stock, valued at $2,459,421.41. This represents a 7.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ying Du sold 5,576 shares of Zai Lab stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total transaction of $113,694.64. Following the sale, the chief executive officer directly owned 1,125,279 shares of the company’s stock, valued at $22,944,438.81. This represents a 0.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,925 shares of company stock valued at $741,239 in the last 90 days. 4.96% of the stock is owned by company insiders.
Institutional Investors Weigh In On Zai Lab
An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada raised its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB – Free Report) by 214.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,771 shares of the company’s stock after buying an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.
Zai Lab Stock Performance
Shares of NASDAQ:ZLAB opened at $20.41 on Wednesday. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The firm has a market cap of $2.30 billion, a PE ratio of -12.68 and a beta of 0.86. The firm’s fifty day moving average is $18.67 and its 200-day moving average is $21.83.
Zai Lab (NASDAQ:ZLAB – Get Free Report) last issued its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) EPS for the quarter. The firm had revenue of $127.60 million for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Sell-side analysts forecast that Zai Lab will post -2.58 EPS for the current year.
Zai Lab Company Profile
Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.
The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.