Cantor Fitzgerald Analysts Raise Earnings Estimates for Zai Lab Limited (NASDAQ:ZLAB)

Zai Lab Limited (NASDAQ:ZLAB) – Cantor Fitzgerald boosted their FY2024 earnings per share (EPS) estimates for Zai Lab in a report released on Tuesday, April 23rd. Cantor Fitzgerald analyst L. Chen now forecasts that the company will earn ($3.50) per share for the year, up from their previous forecast of ($3.53). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($3.27) per share.

Separately, Citigroup dropped their price objective on Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $64.22.

Zai Lab Price Performance

Shares of ZLAB stock opened at $15.91 on Thursday. The business’s fifty day moving average price is $17.45 and its 200 day moving average price is $22.58. Zai Lab has a 1-year low of $13.48 and a 1-year high of $39.50. The firm has a market capitalization of $1.58 billion, a PE ratio of -4.61 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The business had revenue of $65.83 million for the quarter, compared to analyst estimates of $70.41 million.

Institutional Trading of Zai Lab

Large investors have recently made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its stake in shares of Zai Lab by 68.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after acquiring an additional 557 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Zai Lab by 58.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after buying an additional 700 shares during the period. Tower Research Capital LLC TRC lifted its position in Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock worth $70,000 after buying an additional 2,424 shares during the period. Sectoral Asset Management Inc. lifted its position in Zai Lab by 33.3% during the fourth quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock worth $109,000 after buying an additional 1,000 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Zai Lab during the fourth quarter worth about $116,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the sale, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zai Lab news, CEO Ying Du sold 5,787 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $16.15, for a total value of $93,460.05. Following the sale, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at $17,893,747.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the sale, the insider now directly owns 28,684 shares in the company, valued at approximately $449,478.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,568 shares of company stock valued at $208,508. Insiders own 5.23% of the company’s stock.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.