Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives $51.17 Consensus Target Price from Analysts

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $51.1667.

ZLAB has been the subject of several research reports. UBS Group initiated coverage on Zai Lab in a research report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on shares of 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 shares of Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st.

Zai Lab Stock Performance

Zai Lab stock opened at $18.37 on Friday. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The firm has a market capitalization of $2.07 billion, a PE ratio of -11.41 and a beta of 0.85. The business’s 50-day simple moving average is $18.65 and its 200-day simple moving average is $23.21.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.02). The business had revenue of $127.60 million for the quarter, compared to the consensus estimate of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Research analysts forecast that Zai Lab will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In related news, insider Rafael Amado sold 10,787 shares of Zai Lab stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total transaction of $188,017.41. Following the sale, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. This trade represents a 17.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

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

Zai Lab Company Profile

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.