Brokerages Set Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Target Price at $50.00

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $50.00.

ZLAB has been the topic of several research reports. JPMorgan Chase & Co. reduced their target price on Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Cantor Fitzgerald cut their price target on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Zacks Research cut Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, UBS Group assumed coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB opened at $20.41 on Wednesday. The firm has a fifty day moving average price of $18.67 and a 200 day moving average price of $21.68. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $44.34. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -12.68 and a beta of 0.86.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share (EPS) for the quarter. The company had revenue of $127.60 million during the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. As a group, research analysts predict that Zai Lab will post -2.58 earnings per share for the current year.

Insider Activity at Zai Lab

In related news, CFO Yajing Chen sold 5,199 shares of Zai Lab stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $106,007.61. Following the completion of the transaction, the chief financial officer owned 32,558 shares in the company, valued at approximately $663,857.62. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ying Du sold 5,576 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $113,694.64. Following the sale, the chief executive officer directly owned 1,125,279 shares in the company, valued at $22,944,438.81. The trade was a 0.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,925 shares of company stock valued at $741,239 over the last quarter. 4.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada boosted its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,771 shares of the company’s stock after buying 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. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.