Cantor Fitzgerald Reaffirms Overweight Rating for Zai Lab (NASDAQ:ZLAB)

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating reissued by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday,Benzinga reports.

Several other equities research analysts have also recently commented on the stock. Bank of America reissued a “neutral” rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank started coverage on shares of Zai Lab in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th.

Zai Lab Trading Down 4.2 %

Shares of NASDAQ ZLAB opened at $33.91 on Thursday. The firm’s 50-day moving average is $31.32 and its 200-day moving average is $28.07. Zai Lab has a 1 year low of $13.48 and a 1 year high of $39.61. The firm has a market capitalization of $3.72 billion, a PE ratio of -12.24 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.61) by ($0.19). The firm had revenue of $109.07 million during the quarter, compared to analyst estimates of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, equities research analysts anticipate that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the business’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now directly owns 33,834 shares of the company’s stock, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the transaction, the chief executive officer now directly owns 494,117 shares of the company’s stock, valued at approximately $17,032,212.99. This trade represents a 9.19 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,127 shares of company stock valued at $4,139,672. 13.88% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

A number of institutional investors and hedge funds have recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. purchased a new stake in shares of Zai Lab during the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA bought a new position in Zai Lab in the 4th quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Zai Lab by 2.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock worth $1,496,000 after purchasing an additional 1,200 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Zai Lab by 15.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after buying an additional 1,502 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Zai Lab by 4.2% during the 4th quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock valued at $1,161,000 after acquiring an additional 1,790 shares during the period. 41.65% of the stock is currently 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.