Zai Lab (NASDAQ:ZLAB) Hits New 1-Year High – What’s Next?

Zai Lab Limited (NASDAQ:ZLAB) shares reached a new 52-week high on Friday . The stock traded as high as $39.77 and last traded at $38.29, with a volume of 417212 shares changing hands. The stock had previously closed at $36.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ZLAB shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Thursday, March 13th. Scotiabank initiated coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price target for the company. Finally, Bank of America restated a “neutral” rating and set a $36.10 target price (up from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd.

Zai Lab Stock Up 3.5 %

The firm’s fifty day moving average price is $31.54 and its 200 day moving average price is $28.13. The stock has a market cap of $4.10 billion, a PE ratio of -13.51 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) 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 the consensus estimate 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, analysts anticipate that Zai Lab Limited will post -2.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zai Lab news, insider Rafael Amado sold 3,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $38.41, for a total value of $115,230.00. Following the sale, the insider now owns 30,834 shares in the company, valued at $1,184,333.94. This trade represents a 8.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ying Du sold 50,000 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares of the company’s stock, valued at $17,032,212.99. This represents a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,127 shares of company stock valued at $4,139,672 in the last three months. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of institutional investors have recently modified their holdings of ZLAB. GF Fund Management CO. LTD. bought a new position in Zai Lab in the fourth quarter worth approximately $29,000. Public Employees Retirement System of Ohio grew its position in shares of Zai Lab by 20.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock worth $484,000 after buying an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after buying an additional 1,200 shares during the period. Woodline Partners LP raised its holdings in shares of Zai Lab by 9.4% in the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock valued at $46,089,000 after acquiring an additional 151,835 shares in the last quarter. Finally, Vestal Point Capital LP purchased a new stake in Zai Lab in the fourth quarter worth about $7,857,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

About Zai Lab

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.