Zai Lab (NASDAQ:ZLAB) Receives “Overweight” Rating from Cantor Fitzgerald

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

ZLAB has been the subject of several other research reports. Bank of America reaffirmed a “neutral” rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. Scotiabank started 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 objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Thursday, March 13th.

Zai Lab Trading Up 3.1 %

NASDAQ ZLAB opened at $37.29 on Thursday. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -13.46 and a beta of 1.08. The company has a 50 day moving average of $31.76 and a 200-day moving average of $28.31. Zai Lab has a 1-year low of $13.48 and a 1-year high of $39.77.

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

Insiders Place Their Bets

In related news, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares in the company, valued at $17,032,212.99. This trade represents a 9.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rafael Amado sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $38.41, for a total transaction of $115,230.00. Following the sale, the insider now directly owns 30,834 shares in the company, valued at $1,184,333.94. The trade was a 8.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,127 shares of company stock valued at $4,139,672. 13.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

Hedge funds have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new stake in Zai Lab in the fourth quarter valued at $29,000. Pictet Asset Management Holding SA acquired a new stake in shares of Zai Lab in the fourth quarter valued at about $31,000. Barclays PLC raised its position in shares of Zai Lab by 337.6% during the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock worth $97,000 after acquiring an additional 2,856 shares during the last quarter. US Bancorp DE lifted its stake in shares of Zai Lab by 1,671.9% in the fourth quarter. US Bancorp DE now owns 5,865 shares of the company’s stock worth $154,000 after acquiring an additional 5,534 shares during the period. Finally, Jasper Ridge Partners L.P. bought a new stake in Zai Lab in the fourth quarter valued at approximately $210,000. 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.