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

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

Several other analysts have also issued reports on the company. Bank of America reaffirmed a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday, March 3rd. Scotiabank began 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, JPMorgan Chase & Co. raised their target price on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $37.29 on Thursday. The company’s fifty day moving average price is $31.76 and its 200-day moving average price is $28.25. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -13.46 and a beta of 1.08. Zai Lab has a one year low of $13.48 and a one year high of $39.77.

Zai Lab (NASDAQ:ZLAB) last announced 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). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The company had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. As a group, equities research analysts expect that Zai Lab will post -2.58 EPS for the current year.

Insiders Place Their Bets

In other 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 sale, the insider now owns 33,834 shares in the company, valued at approximately $889,157.52. The trade was a 18.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares of the company’s stock, valued at approximately $17,032,212.99. The trade was a 9.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,127 shares of company stock worth $4,139,672. 13.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

Several hedge funds have recently bought and sold shares of ZLAB. GF Fund Management CO. LTD. bought a new position 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 during the 4th quarter valued at approximately $31,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Zai Lab by 2.1% during 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 valued at $1,496,000 after buying an additional 1,200 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake 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 valued at $290,000 after buying an additional 1,502 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in Zai Lab by 4.2% in the fourth quarter. Invesco Ltd. now owns 44,340 shares of the company’s stock worth $1,161,000 after acquiring an additional 1,790 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

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.