Zai Lab (NASDAQ:ZLAB) Given a $75.00 Price Target at Leerink Partners

Leerink Partners set a $75.00 target price on Zai Lab (NASDAQ:ZLAB) in a report released on Monday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank began coverage on shares of Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock. Wall Street Zen downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Friday, June 27th. JPMorgan Chase & Co. increased their price target on shares of Zai Lab from $44.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, March 13th. Bank of America reiterated a “neutral” rating and issued a $36.10 price target (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.28.

Zai Lab Stock Up 0.9%

ZLAB opened at $35.49 on Monday. Zai Lab has a 52-week low of $16.01 and a 52-week high of $44.34. The company has a market cap of $3.94 billion, a P/E ratio of -14.25 and a beta of 0.99. The firm’s 50-day moving average price is $33.66 and its 200-day moving average price is $31.25.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.05. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The company had revenue of $106.49 million for the quarter, compared to the consensus estimate of $118.40 million. On average, research analysts anticipate that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 6,918 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $35.52, for a total value of $245,727.36. Following the sale, the chief executive officer owned 526,034 shares in the company, valued at approximately $18,684,727.68. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Yajing Chen sold 2,675 shares of the company’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $36.13, for a total value of $96,647.75. Following the completion of the sale, the chief financial officer owned 21,004 shares in the company, valued at approximately $758,874.52. This represents a 11.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,826 shares of company stock worth $4,900,539. 4.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Zai Lab during the 4th quarter valued at approximately $1,032,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Zai Lab during the 1st quarter valued at approximately $603,000. BNP Paribas Financial Markets lifted its position in shares of Zai Lab by 1,439.8% during the 4th quarter. BNP Paribas Financial Markets now owns 19,755 shares of the company’s stock valued at $517,000 after buying an additional 18,472 shares in the last quarter. FMR LLC lifted its position in shares of Zai Lab by 749.1% during the 4th quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after buying an additional 4,830,646 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Zai Lab by 1,671.9% during the 4th quarter. US Bancorp DE now owns 5,865 shares of the company’s stock valued at $154,000 after buying an additional 5,534 shares in the last quarter. Hedge funds and other institutional investors own 41.65% 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.