Zai Lab (NASDAQ:ZLAB) Releases Earnings Results, Beats Estimates By $0.38 EPS

Zai Lab (NASDAQ:ZLAB) released its quarterly earnings data on Wednesday. The company reported ($0.55) EPS for the quarter, beating the consensus estimate of ($0.93) by $0.38, Zacks reports. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The company had revenue of $87.15 million for the quarter, compared to analysts’ expectations of $77.07 million. During the same period last year, the firm posted ($0.51) earnings per share.

Zai Lab Trading Up 25.7 %

ZLAB stock traded up $4.26 during midday trading on Thursday, reaching $20.83. 2,457,989 shares of the company’s stock traded hands, compared to its average volume of 638,142. Zai Lab has a 52-week low of $13.48 and a 52-week high of $39.50. The stock has a market cap of $2.07 billion, a P/E ratio of -5.97 and a beta of 1.11. The stock’s 50-day moving average is $16.78 and its 200 day moving average is $22.12.

Insider Transactions at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the completion of the sale, the insider now owns 20,093 shares in the company, valued at $378,953.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joshua L. Smiley sold 1,988 shares of Zai Lab stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the sale, the insider now owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock worth $208,508 in the last 90 days. 5.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on ZLAB shares. Citigroup reduced their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Zai Lab has a consensus rating of “Buy” and a consensus price target of $64.22.

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.