Brokerages Set Zai Lab Ltd (NASDAQ:ZLAB) PT at $45.45

Zai Lab Ltd (NASDAQ:ZLAB) has been assigned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $45.45.

A number of analysts have recently commented on the company. Leerink Swann set a $48.00 target price on Zai Lab and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Bank of America assumed coverage on Zai Lab in a research note on Friday, July 12th. They issued a “buy” rating and a $43.00 target price on the stock. Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th. Macquarie assumed coverage on Zai Lab in a research note on Friday, July 5th. They issued an “outperform” rating and a $36.54 target price on the stock. Finally, China Renaissance Securities assumed coverage on Zai Lab in a research note on Wednesday, September 4th. They issued a “buy” rating on the stock.

Shares of ZLAB traded down $0.08 during mid-day trading on Friday, reaching $34.04. The company had a trading volume of 82,600 shares, compared to its average volume of 133,924. Zai Lab has a 52-week low of $15.15 and a 52-week high of $38.44. The stock has a market capitalization of $1.98 billion, a P/E ratio of -12.89 and a beta of 1.32. The stock has a 50 day moving average of $33.28 and a two-hundred day moving average of $31.91.

Several institutional investors and hedge funds have recently modified their holdings of ZLAB. Clearbridge Investments LLC boosted its position in Zai Lab by 31.9% during the first quarter. Clearbridge Investments LLC now owns 92,813 shares of the company’s stock worth $2,739,000 after purchasing an additional 22,447 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Zai Lab by 2.7% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock worth $26,652,000 after purchasing an additional 23,519 shares in the last quarter. FMR LLC boosted its position in Zai Lab by 0.4% during the first quarter. FMR LLC now owns 5,835,589 shares of the company’s stock worth $172,208,000 after purchasing an additional 25,011 shares in the last quarter. Segantii Capital Management Ltd boosted its position in Zai Lab by 36.9% during the second quarter. Segantii Capital Management Ltd now owns 3,288,888 shares of the company’s stock worth $114,684,000 after purchasing an additional 885,888 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Zai Lab by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 199,903 shares of the company’s stock worth $6,971,000 after purchasing an additional 1,297 shares in the last quarter. Hedge funds and other institutional investors own 60.03% 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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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