Zai Lab (NASDAQ:ZLAB) Sets New 52-Week High Following Analyst Upgrade

Zai Lab Limited (NASDAQ:ZLAB)’s share price hit a new 52-week high during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $44.00 to $51.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Zai Lab traded as high as $39.61 and last traded at $38.90, with a volume of 220695 shares. The stock had previously closed at $36.14.

ZLAB has been the topic of several other research reports. Scotiabank started coverage on Zai Lab in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Bank of America reissued a “neutral” rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd.

Insider Activity

In related news, insider Rafael Amado sold 7,583 shares of Zai Lab stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the transaction, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. This trade represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction dated Friday, February 28th. The stock was 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 owns 494,117 shares of the company’s stock, valued at $17,032,212.99. The trade was a 9.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,127 shares of company stock worth $4,024,442 in the last quarter. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. bought a new position in Zai Lab during the fourth quarter worth about $29,000. Pictet Asset Management Holding SA bought a new position in Zai Lab during the fourth quarter worth about $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $1,496,000 after purchasing an additional 1,200 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Zai Lab by 15.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,061 shares of the company’s stock worth $290,000 after purchasing an additional 1,502 shares during the period. Finally, Invesco Ltd. grew its holdings in Zai Lab by 4.2% during the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock worth $1,161,000 after purchasing an additional 1,790 shares during the period. Institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Up 5.7 %

The company has a market cap of $4.19 billion, a P/E ratio of -13.79 and a beta of 1.08. The business has a fifty day moving average price of $29.47 and a 200-day moving average price of $27.13.

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

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.