Zai Lab (NASDAQ:ZLAB) Reaches New 1-Year High – Time to Buy?

Zai Lab Limited (NASDAQ:ZLAB) reached a new 52-week high during trading on Friday . The company traded as high as $37.99 and last traded at $37.05, with a volume of 300615 shares. The stock had previously closed at $35.39.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Cantor Fitzgerald raised Zai Lab to a “strong-buy” rating in a report on Tuesday. Scotiabank initiated coverage on Zai Lab in a research report on Friday. They issued a “sector outperform” rating and a $55.00 price target for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $36.10 target price (up previously from $29.00) on shares of Zai Lab in a research note on Monday.

Zai Lab Stock Performance

The stock has a market cap of $3.98 billion, a PE ratio of -13.14 and a beta of 1.02. The company has a 50 day moving average of $28.26 and a two-hundred day moving average of $26.31.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $109.07 million for the quarter, compared to analysts’ expectations of $110.15 million. As a group, equities research analysts anticipate that Zai Lab Limited will post -2.58 EPS for the current year.

Insider Buying and Selling at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 14,544 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total transaction of $479,661.12. Following the transaction, the insider now directly owns 14,328 shares of the company’s stock, valued at $472,537.44. This represents a 50.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the sale, the chief executive officer now owns 494,117 shares in the company, valued at approximately $17,032,212.99. This represents a 9.19 % decrease in their position. 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 over the last ninety days. Corporate insiders own 13.88% of the company’s stock.

Institutional Inflows and Outflows

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

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.