JPMorgan Chase & Co. Raises Zai Lab (NASDAQ:ZLAB) Price Target to $44.00

Zai Lab (NASDAQ:ZLAB) had its price target boosted by research analysts at JPMorgan Chase & Co. from $38.00 to $44.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 57.59% from the company’s previous close.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Zai Lab presently has a consensus rating of “Buy” and a consensus price target of $57.71.

Zai Lab Stock Up 1.6 %

ZLAB stock traded up $0.43 during mid-day trading on Monday, reaching $27.92. 321,407 shares of the company traded hands, compared to its average volume of 636,913. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -8.01 and a beta of 1.08. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $31.22. The firm’s 50 day moving average price is $21.28 and its 200 day moving average price is $19.01.

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

Insider Buying and Selling

In related news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the sale, the insider now owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.23% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently modified their holdings of the stock. Capital World Investors raised its holdings in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after purchasing an additional 465,337 shares during the period. M&G Plc bought a new stake in shares of Zai Lab in the 1st quarter worth approximately $7,266,000. Russell Investments Group Ltd. raised its holdings in shares of Zai Lab by 51.1% in the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares during the period. Swedbank AB bought a new stake in shares of Zai Lab in the 1st quarter worth approximately $244,000. Finally, DCF Advisers LLC bought a new stake in shares of Zai Lab in the 2nd quarter worth approximately $528,000. Institutional investors 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.