BidaskClub Lowers Zai Lab (NASDAQ:ZLAB) to Hold

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BidaskClub lowered shares of Zai Lab (NASDAQ:ZLAB) from a buy rating to a hold rating in a research note issued to investors on Saturday morning, BidAskClub reports.

Several other analysts have also recently weighed in on the stock. Bank of America started coverage on shares of Zai Lab in a research report on Friday, July 12th. They set a buy rating and a $43.00 price objective on the stock. ValuEngine cut shares of Zai Lab from a buy rating to a hold rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Zai Lab from a buy rating to a hold rating in a research report on Saturday, June 15th. Macquarie started coverage on shares of Zai Lab in a research report on Friday, July 5th. They set an outperform rating and a $36.54 price objective on the stock. Finally, Leerink Swann set a $47.00 price objective on shares of Zai Lab and gave the company a buy rating in a research report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Zai Lab presently has a consensus rating of Buy and a consensus target price of $38.25.

Zai Lab stock opened at $31.12 on Friday. The firm’s fifty day moving average is $34.76. The stock has a market cap of $1.81 billion, a PE ratio of -11.79 and a beta of 1.36. Zai Lab has a fifty-two week low of $14.29 and a fifty-two week high of $36.78.

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC purchased a new position in Zai Lab in the 2nd quarter worth $36,000. Aperio Group LLC purchased a new position in Zai Lab in the 2nd quarter worth $95,000. Barclays PLC purchased a new position in Zai Lab in the 4th quarter worth $65,000. Bank of America Corp DE raised its position in Zai Lab by 20.3% in the 4th quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after purchasing an additional 1,103 shares during the period. Finally, California Public Employees Retirement System raised its position in Zai Lab by 15.7% in the 4th quarter. California Public Employees Retirement System now owns 32,273 shares of the company’s stock worth $749,000 after purchasing an additional 4,372 shares during the period. Institutional investors own 37.71% of the company’s stock.

About Zai Lab

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.

See Also: Cost of Goods Sold (COGS)

Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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