Cantor Fitzgerald Lowers Zai Lab (NASDAQ:ZLAB) Price Target to $37.00

Zai Lab (NASDAQ:ZLAB) had its price objective dropped by research analysts at Cantor Fitzgerald from $55.00 to $37.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 93.01% from the company’s previous close.

A number of other brokerages have also issued reports on ZLAB. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. JPMorgan Chase & Co. lowered their target price on Zai Lab from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Finally, UBS Group assumed coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $49.76.

Zai Lab Price Performance

ZLAB traded down $0.52 on Friday, reaching $19.17. 15,953 shares of the company traded hands, compared to its average volume of 726,650. Zai Lab has a 52-week low of $15.96 and a 52-week high of $44.34. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -9.82 and a beta of 0.88. The stock’s 50 day moving average price is $18.42 and its 200-day moving average price is $24.42.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.02). The company had revenue of $127.60 million for the quarter, compared to analysts’ expectations of $122.67 million. Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. As a group, equities research analysts forecast that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Activity at Zai Lab

In related news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the transaction, the insider owned 52,391 shares in the company, valued at $913,175.13. The trade was a 17.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada boosted its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the SEC. 41.65% of the stock is owned by hedge funds and other institutional investors.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.