BidaskClub Upgrades Zai Lab (ZLAB) to Hold

Zai Lab (NASDAQ:ZLAB) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday, BidAskClub reports.

ZLAB has been the topic of several other research reports. Credit Suisse Group assumed coverage on shares of Zai Lab in a research report on Tuesday, January 29th. They set an “outperform” rating and a $34.70 price target on the stock. Zacks Investment Research cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. Finally, ValuEngine upgraded shares of Zai Lab from a “hold” rating to a “buy” rating in a research report on Thursday, February 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.90.

Shares of NASDAQ ZLAB opened at $27.88 on Tuesday. Zai Lab has a 1 year low of $14.29 and a 1 year high of $33.86. The stock has a market cap of $1.59 billion, a P/E ratio of -10.56 and a beta of 1.07.



Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc purchased a new stake in Zai Lab in the third quarter worth about $14,955,000. Legal & General Group Plc purchased a new stake in Zai Lab in the third quarter worth about $42,000. Polar Capital LLP purchased a new stake in Zai Lab in the fourth quarter worth about $3,483,000. Hudson Bay Capital Management LP grew its holdings in 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 purchasing an additional 27,001 shares during the period. Finally, Vanguard Group Inc. purchased a new stake in Zai Lab in the third quarter worth about $14,955,000. Institutional investors and hedge funds own 36.67% of the company’s stock.

About Zai Lab

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.

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