Cantor Fitzgerald Forecasts Zai Lab FY2024 Earnings

Zai Lab Limited (NASDAQ:ZLAB) – Stock analysts at Cantor Fitzgerald issued their FY2024 earnings estimates for Zai Lab in a research report issued to clients and investors on Wednesday, February 5th. Cantor Fitzgerald analyst L. Watsek forecasts that the company will post earnings of ($2.54) per share for the year. Cantor Fitzgerald has a “Strong-Buy” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.59) per share. Cantor Fitzgerald also issued estimates for Zai Lab’s FY2025 earnings at ($1.38) EPS.

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

Zai Lab Trading Up 3.3 %

NASDAQ:ZLAB opened at $27.81 on Friday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $36.60. The company’s 50 day moving average price is $26.62 and its 200-day moving average price is $24.38.

Insider Activity

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total value of $199,281.24. Following the transaction, the insider now owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

A number of large investors have recently made changes to their positions in ZLAB. Janus Henderson Group PLC lifted its stake in shares of Zai Lab by 34.2% in the 3rd quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock worth $211,488,000 after purchasing an additional 2,232,507 shares during the period. Wellington Management Group LLP raised its position in Zai Lab by 18.4% in the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock worth $203,660,000 after acquiring an additional 1,312,115 shares during the period. Bamco Inc. NY boosted its stake in shares of Zai Lab by 6.4% during the 3rd quarter. Bamco Inc. NY now owns 1,906,520 shares of the company’s stock worth $46,023,000 after acquiring an additional 113,869 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Zai Lab during the 4th quarter valued at $46,172,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Zai Lab by 188.6% in the 4th quarter. Allianz Asset Management GmbH now owns 1,505,866 shares of the company’s stock worth $39,442,000 after purchasing an additional 984,041 shares in the last quarter. 41.65% of the stock is currently owned by institutional investors.

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.