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

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

Separately, Citigroup dropped their price target on shares of 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 equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $64.57.

Zai Lab Stock Down 2.5 %

ZLAB stock opened at $17.52 on Tuesday. Zai Lab has a 12-month low of $13.48 and a 12-month high of $32.60. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -5.02 and a beta of 1.16. The company has a 50 day moving average of $18.29 and a two-hundred day moving average of $20.25.

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

Insider Activity at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $21.33, for a total transaction of $213,300.00. Following the completion of the transaction, the insider now directly owns 16,408 shares of the company’s stock, valued at approximately $349,982.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Frazor Titus Edmondson III sold 10,000 shares of Zai Lab stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $21.33, for a total transaction of $213,300.00. Following the completion of the transaction, the insider now directly owns 16,408 shares of the company’s stock, valued at approximately $349,982.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Harald Reinhart sold 7,431 shares of Zai Lab stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $17.90, for a total transaction of $133,014.90. Following the transaction, the insider now directly owns 62,619 shares of the company’s stock, valued at $1,120,880.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,548 shares of company stock worth $973,907. 5.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Zai Lab

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its position in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Zai Lab in the 1st quarter valued at about $64,000. Tower Research Capital LLC TRC increased its position in Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after acquiring an additional 2,424 shares in the last quarter. Sectoral Asset Management Inc. increased its position in Zai Lab by 33.3% in the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after acquiring an additional 1,000 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Zai Lab during the 4th quarter worth approximately $116,000. 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.