Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives Consensus Rating of “Moderate Buy” from Analysts

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $51.5857.

ZLAB has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on Zai Lab from $46.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. UBS Group initiated coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. Zacks Research cut Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th.

Insider Buying and Selling

In other news, insider Rafael Amado sold 10,787 shares of the stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the transaction, the insider directly owned 52,391 shares in the company, valued at $913,175.13. This represents a 17.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $18.44 on Tuesday. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The company’s 50 day moving average price is $18.08 and its two-hundred day moving average price is $25.88. The company has a market capitalization of $2.06 billion, a P/E ratio of -9.46 and a beta of 0.88.

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.