Leerink Partnrs Has Positive View of Zai Lab FY2024 Earnings

Zai Lab Limited (NASDAQ:ZLAB) – Equities research analysts at Leerink Partnrs raised their FY2024 earnings estimates for shares of Zai Lab in a note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now expects that the company will post earnings of ($2.55) per share for the year, up from their previous forecast of ($3.13). The consensus estimate for Zai Lab’s current full-year earnings is ($2.97) per share. Leerink Partnrs also issued estimates for Zai Lab’s Q4 2024 earnings at ($0.75) EPS and FY2025 earnings at ($1.45) EPS.

Other research analysts have also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Trading Down 11.0 %

Shares of NASDAQ:ZLAB opened at $26.67 on Friday. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The company has a 50 day moving average of $25.78 and a 200-day moving average of $20.94.

Institutional Trading of Zai Lab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in shares of Zai Lab by 8.9% in 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 during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Zai Lab by 9.6% in the first quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock valued at $70,924,000 after purchasing an additional 387,729 shares during the last quarter. Bamco Inc. NY increased its holdings in shares of Zai Lab by 7.3% in the first quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock valued at $25,630,000 after purchasing an additional 108,991 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Zai Lab by 26.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock valued at $14,584,000 after purchasing an additional 125,532 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Zai Lab in the first quarter valued at $7,266,000. 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.