Zai Lab (NASDAQ:ZLAB) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note released on Friday morning, Benzinga reports.

Separately, JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st.

Zai Lab Price Performance

Zai Lab stock opened at $32.37 on Friday. The firm has a 50 day simple moving average of $22.65 and a 200-day simple moving average of $19.53. Zai Lab has a 1-year low of $13.48 and a 1-year high of $36.60. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -9.28 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The firm had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $94.46 million. Equities analysts expect that Zai Lab will post -2.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total transaction of $72,547.84. Following the sale, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds have recently added to or reduced their stakes in ZLAB. Capital World Investors lifted its position in shares of Zai Lab by 8.9% during the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock worth $91,061,000 after purchasing an additional 465,337 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Zai Lab by 9.6% during 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. Bamco Inc. NY lifted its position in shares of Zai Lab by 7.3% during 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. M&G Plc purchased a new stake in shares of Zai Lab during the 1st quarter worth $7,266,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Zai Lab by 51.1% during the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares during the last quarter. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.