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

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Friday, Benzinga reports.

Separately, JPMorgan Chase & Co. boosted their target price on Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $57.71.

Zai Lab Stock Performance

NASDAQ:ZLAB traded down $0.87 during mid-day trading on Friday, reaching $32.31. The stock had a trading volume of 370,638 shares, compared to its average volume of 658,190. The firm has a 50 day moving average price of $22.35 and a two-hundred day moving average price of $19.36. The stock has a market capitalization of $3.22 billion, a P/E ratio of -9.31 and a beta of 1.08. Zai Lab has a one year low of $13.48 and a one year high of $36.60.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). The firm had revenue of $100.50 million during the quarter, compared to the consensus estimate of $94.46 million. Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. Research analysts forecast that Zai Lab will post -2.94 earnings per share for the current year.

Insiders Place Their Bets

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors lifted its holdings in shares of Zai Lab by 8.9% during the first quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares in the last quarter. M&G Plc bought a new position in shares of Zai Lab during the first quarter valued at $7,266,000. Russell Investments Group Ltd. lifted its holdings in shares of Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock valued at $4,706,000 after purchasing an additional 99,355 shares in the last quarter. Swedbank AB bought a new position in shares of Zai Lab during the first quarter valued at $244,000. Finally, DCF Advisers LLC bought a new position in shares of Zai Lab during the second quarter valued at $528,000. 41.65% of the stock is 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.