Shares of Zai Lab Ltd (NASDAQ:ZLAB) have earned an average recommendation of “Hold” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.50.
Several equities research analysts recently commented on ZLAB shares. Zacks Investment Research raised shares of Zai Lab from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. BidaskClub upgraded Zai Lab from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Finally, Jefferies Financial Group began coverage on Zai Lab in a report on Wednesday, November 21st. They issued a “buy” rating for the company.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Zai Lab in the 3rd quarter worth about $159,000. Northern Trust Corp purchased a new stake in shares of Zai Lab during the second quarter worth approximately $224,000. Citadel Advisors LLC purchased a new stake in shares of Zai Lab during the third quarter worth approximately $333,000. Soros Fund Management LLC purchased a new stake in shares of Zai Lab during the third quarter worth approximately $341,000. Finally, BlackRock Inc. increased its stake in shares of Zai Lab by 4,472.7% during the first quarter. BlackRock Inc. now owns 20,760 shares of the company’s stock worth $443,000 after buying an additional 20,306 shares during the period. 26.44% of the stock is currently owned by institutional investors and hedge funds.
Zai Lab stock traded up $0.26 during midday trading on Wednesday, reaching $17.45. 3,127 shares of the company traded hands, compared to its average volume of 56,347. The company has a market cap of $998.83 million, a price-to-earnings ratio of -7.41 and a beta of 2.70. Zai Lab has a 12 month low of $14.29 and a 12 month high of $27.34.
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.
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