Leerink Partnrs Has Positive View of Zai Lab FY2024 Earnings

Zai Lab Limited (NASDAQ:ZLAB) – Equities research analysts at Leerink Partnrs boosted their FY2024 EPS estimates for shares of Zai Lab in a research note issued to investors on Tuesday, November 12th. Leerink Partnrs analyst J. Chang now forecasts that the company will earn ($2.55) per share for the year, up from their prior estimate 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 equities research analysts have also issued research reports about the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Zai Lab Trading Down 11.0 %

ZLAB opened at $26.67 on Friday. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The company’s 50-day moving average price is $25.78 and its 200 day moving average price is $20.94.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Capital World Investors grew its stake in Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after buying an additional 465,337 shares during the last quarter. M&G Plc acquired a new stake in Zai Lab in the 1st quarter worth $7,266,000. Janus Henderson Group PLC grew its position in Zai Lab by 9.6% in the 1st quarter. Janus Henderson Group PLC now owns 4,428,011 shares of the company’s stock worth $70,924,000 after purchasing an additional 387,729 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Zai Lab by 26.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 604,153 shares of the company’s stock worth $14,584,000 after purchasing an additional 125,532 shares during the last quarter. Finally, Bamco Inc. NY grew its position in Zai Lab by 7.3% in the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after purchasing an additional 108,991 shares during the last quarter. Institutional investors and hedge funds 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.