Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives $45.83 Average Price Target from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.8333.

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald decreased their price objective on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Citigroup decreased their price objective on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Finally, Wall Street Zen cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

Insider Transactions at Zai Lab

In other news, CFO Yajing Chen sold 5,199 shares of Zai Lab stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $106,007.61. Following the sale, the chief financial officer directly owned 32,558 shares in the company, valued at approximately $663,857.62. This trade represents a 13.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ying Du sold 50,000 shares of Zai Lab stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $20.09, for a total value of $1,004,500.00. Following the completion of the sale, the chief executive officer owned 1,122,626 shares in the company, valued at approximately $22,553,556.34. This represents a 4.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 96,187 shares of company stock worth $1,935,147. Corporate insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently bought a new position in Zai Lab stock. SG Americas Securities LLC bought a new position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 9,754 shares of the company’s stock, valued at approximately $331,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

Shares of ZLAB stock opened at $18.69 on Thursday. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $44.34. The stock has a 50 day moving average price of $20.28 and a two-hundred day moving average price of $19.40. The company has a market capitalization of $2.12 billion, a P/E ratio of -11.54 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. The company had revenue of $99.61 million during the quarter. As a group, equities analysts predict that Zai Lab will post -2.22 earnings per share for the current year.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.