Cantor Fitzgerald Raises Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB) – Research analysts at Cantor Fitzgerald upped their FY2024 earnings per share (EPS) estimates for shares of Zai Lab in a report released on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings of ($2.54) per share for the year, up from their previous estimate of ($3.16). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.73) per share.

Separately, JPMorgan Chase & Co. increased their target price 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 Stock Up 3.9 %

Shares of ZLAB opened at $26.15 on Monday. Zai Lab has a 52-week low of $13.48 and a 52-week high of $36.60. The company has a 50-day simple moving average of $26.17 and a 200-day simple moving average of $21.19. The company has a market capitalization of $2.60 billion, a PE ratio of -9.44 and a beta of 1.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in Zai Lab by 51.2% during the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Zai Lab in the third quarter valued at approximately $225,000. Daiwa Securities Group Inc. increased its stake in shares of Zai Lab by 4,851.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 9,557 shares of the company’s stock worth $231,000 after purchasing an additional 9,364 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Zai Lab by 58.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,559 shares of the company’s stock worth $231,000 after purchasing an additional 3,514 shares during the last quarter. Finally, RBF Capital LLC purchased a new stake in Zai Lab in the 3rd quarter valued at approximately $241,000. 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.