Zai Lab’s (ZLAB) “Neutral” Rating Reiterated at Bank of America

Bank of America reissued their neutral rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note published on Monday, MarketBeat Ratings reports. They currently have a $36.10 target price on the stock, up from their prior target price of $29.00.

Separately, Cantor Fitzgerald raised shares of Zai Lab to a “strong-buy” rating in a research note on Wednesday, February 5th.

Zai Lab Trading Up 5.6 %

Shares of ZLAB stock opened at $35.91 on Monday. The stock has a market cap of $3.93 billion, a P/E ratio of -12.96 and a beta of 1.02. Zai Lab has a 12 month low of $13.48 and a 12 month high of $36.60. The company has a 50 day simple moving average of $27.92 and a two-hundred day simple moving average of $26.18.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.61) by ($0.19). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The business had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. As a group, equities analysts forecast that Zai Lab will post -2.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the sale, the chief executive officer now directly owns 494,117 shares in the company, valued at approximately $17,032,212.99. This trade represents a 9.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rafael Amado sold 7,583 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the sale, the insider now owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,127 shares of company stock worth $4,024,442 in the last three months. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in shares of Zai Lab in the 4th quarter valued at approximately $29,000. Public Employees Retirement System of Ohio increased its holdings in shares of Zai Lab by 20.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock valued at $484,000 after purchasing an additional 3,179 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Zai Lab by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock valued at $1,496,000 after purchasing an additional 1,200 shares in the last quarter. Woodline Partners LP grew its stake in Zai Lab by 9.4% in the 4th quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock valued at $46,089,000 after acquiring an additional 151,835 shares during the period. Finally, Vestal Point Capital LP acquired a new stake in Zai Lab in the 4th quarter valued at $7,857,000. 41.65% of the stock is owned by hedge funds and other institutional investors.

About Zai Lab

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.