Zai Lab (NASDAQ:ZLAB) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note released on Friday, Benzinga reports.

Separately, JPMorgan Chase & Co. increased their target price on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has an average rating of “Buy” and a consensus target price of $57.71.

Zai Lab Stock Performance

NASDAQ ZLAB traded down $0.81 during trading hours on Friday, reaching $32.37. 1,025,232 shares of the company’s stock were exchanged, compared to its average volume of 661,198. The company’s 50-day moving average is $22.65 and its two-hundred day moving average is $19.48. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -9.28 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) 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 business had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. Research analysts predict that Zai Lab will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Zai Lab

Several large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Zai Lab by 58.1% in the 3rd 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 during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Zai Lab by 22.2% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 36,648 shares of the company’s stock valued at $899,000 after buying an additional 6,648 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Zai Lab by 14.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock valued at $3,432,000 after buying an additional 18,093 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Zai Lab by 18.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company’s stock valued at $2,031,000 after buying an additional 18,654 shares during the last quarter. Finally, DCF Advisers LLC acquired a new stake in shares of Zai Lab in the 2nd quarter valued at approximately $528,000. 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.