Zai Lab (ZLAB) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Zai Lab (NASDAQ:ZLAB) from a hold rating to a sell rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “Zai Lab Ltd is a biopharmaceutical company. It focused on medicines for cancer, autoimmune and infectious diseases primarily in China. The company’s product pipeline consists of ZL-2306, ZL-2401, ZL-2301, ZL-3101, ZL-2302 and ZL-1101 which are in clinical stage. Zai Lab Ltd is based in Pudong, China. “

ZLAB has been the topic of a number of other research reports. BidaskClub downgraded Zai Lab from a buy rating to a hold rating in a report on Tuesday, April 16th. Credit Suisse Group initiated coverage on Zai Lab in a report on Tuesday, January 29th. They set an outperform rating and a $34.70 price target on the stock. Finally, ValuEngine upgraded Zai Lab from a hold rating to a buy rating in a report on Thursday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $34.57.



Shares of ZLAB stock opened at $29.38 on Friday. Zai Lab has a 1-year low of $14.29 and a 1-year high of $33.86.

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC grew its stake in Zai Lab by 766.0% in the third quarter. Clearbridge Investments LLC now owns 55,397 shares of the company’s stock valued at $1,079,000 after purchasing an additional 49,000 shares in the last quarter. Vanguard Group Inc acquired a new stake in shares of Zai Lab in the third quarter worth about $14,955,000. Legal & General Group Plc acquired a new stake in shares of Zai Lab in the third quarter worth about $42,000. Polar Capital LLP acquired a new stake in shares of Zai Lab in the fourth quarter worth about $3,483,000. Finally, Hudson Bay Capital Management LP lifted its position in shares of Zai Lab by 13.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 233,575 shares of the company’s stock worth $5,424,000 after buying an additional 27,001 shares during the last quarter. Hedge funds and other institutional investors own 36.48% of the company’s stock.

Zai Lab Company Profile

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

Featured Story: Balanced Fund

Get a free copy of the Zacks research report on Zai Lab (ZLAB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.