Zai Lab (NASDAQ:ZLAB) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Zai Lab (NASDAQ:ZLAB) in a research report sent to investors on Tuesday morning, Benzinga reports.

Separately, Citigroup reduced their target price on Zai Lab from $123.00 to $66.00 and set a buy rating on the stock in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab has a consensus rating of Buy and an average price target of $64.57.

Zai Lab Stock Down 2.5 %

ZLAB stock opened at $17.52 on Tuesday. The business’s fifty day simple moving average is $18.29 and its two-hundred day simple moving average is $20.25. Zai Lab has a twelve month low of $13.48 and a twelve month high of $32.60. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -5.02 and a beta of 1.16.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. Zai Lab had a negative return on equity of 40.21% and a negative net margin of 116.45%. The business had revenue of $87.15 million for the quarter, compared to analyst estimates of $77.07 million. During the same quarter last year, the firm posted ($0.51) earnings per share. Research analysts expect that Zai Lab will post -2.78 EPS for the current year.

Insider Transactions at Zai Lab

In other news, insider Harald Reinhart sold 7,431 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total transaction of $133,014.90. Following the transaction, the insider now owns 62,619 shares of the company’s stock, valued at approximately $1,120,880.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Harald Reinhart sold 7,431 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total transaction of $133,014.90. Following the sale, the insider now owns 62,619 shares of the company’s stock, valued at $1,120,880.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the sale, the chief executive officer now directly owns 1,107,972 shares in the company, valued at approximately $17,893,747.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,548 shares of company stock valued at $973,907. 5.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

Institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its holdings in Zai Lab by 26.1% in the fourth quarter. Allianz Asset Management GmbH now owns 679,524 shares of the company’s stock worth $18,571,000 after acquiring an additional 140,461 shares in the last quarter. Baader Bank Aktiengesellschaft purchased a new position in shares of Zai Lab in the fourth quarter worth about $253,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Zai Lab by 323.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,802 shares of the company’s stock worth $159,000 after purchasing an additional 4,431 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Zai Lab by 4.5% in the third quarter. Bamco Inc. NY now owns 1,579,349 shares of the company’s stock worth $38,394,000 after purchasing an additional 67,288 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Zai Lab by 177.6% in the fourth quarter. Wellington Management Group LLP now owns 5,336,457 shares of the company’s stock worth $145,845,000 after purchasing an additional 3,413,829 shares during the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

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.