Brokers Issue Forecasts for Zai Lab Ltd’s FY2019 Earnings (NASDAQ:ZLAB)

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Zai Lab Ltd (NASDAQ:ZLAB) – Research analysts at Svb Leerink cut their FY2019 earnings per share (EPS) estimates for shares of Zai Lab in a research report issued to clients and investors on Tuesday, June 11th. Svb Leerink analyst J. Chang now forecasts that the company will post earnings of ($1.51) per share for the year, down from their prior estimate of ($1.40). Svb Leerink also issued estimates for Zai Lab’s FY2020 earnings at ($0.42) EPS.

Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. BidaskClub upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th. Finally, Leerink Swann set a $46.00 price objective on Zai Lab and gave the stock a “buy” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $36.90.

Zai Lab stock opened at $31.47 on Friday. Zai Lab has a 52-week low of $14.29 and a 52-week high of $33.86. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -11.92 and a beta of 0.96.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Zai Lab by 20.3% during the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after acquiring an additional 1,103 shares in the last quarter. Citigroup Inc. acquired a new position in Zai Lab during the first quarter worth $40,000. Bank of Montreal Can raised its stake in Zai Lab by 18.5% during the fourth quarter. Bank of Montreal Can now owns 9,692 shares of the company’s stock worth $225,000 after acquiring an additional 1,512 shares in the last quarter. California Public Employees Retirement System raised its stake in Zai Lab by 6.0% during the first quarter. California Public Employees Retirement System now owns 34,203 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,930 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Zai Lab by 8.2% during the first quarter. Northern Trust Corp now owns 30,676 shares of the company’s stock worth $905,000 after acquiring an additional 2,332 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

Zai Lab Company Profile

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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Earnings History and Estimates for Zai Lab (NASDAQ:ZLAB)

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