Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives $37.25 Average PT from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $37.25.

Several equities research analysts recently weighed in on ZLAB shares. Citigroup raised their price objective on Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 7th. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings raised Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $25.46 on Friday. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -14.89 and a beta of 0.78. The firm has a 50 day simple moving average of $21.44 and a 200 day simple moving average of $20.17. Zai Lab has a one year low of $15.96 and a one year high of $34.72.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $106.31 million during the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. As a group, analysts expect that Zai Lab will post -2.17 EPS for the current year.

Insider Buying and Selling

In other Zai Lab news, CEO Ying Du sold 7,026 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $18.53, for a total value of $130,191.78. Following the completion of the transaction, the chief executive officer directly owned 1,203,784 shares in the company, valued at approximately $22,306,117.52. This represents a 0.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Yajing Chen sold 2,264 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the transaction, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at $623,164.86. The trade was a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,258 shares of company stock worth $960,741 in the last ninety days. Company insiders own 4.88% of the company’s stock.

Institutional Trading of Zai Lab

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in Zai Lab by 214.3% in the first quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after purchasing an additional 9,390 shares during the period. Headlands Technologies LLC boosted its holdings in Zai Lab by 142.0% in the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after acquiring an additional 39,901 shares during the last quarter. Finally, Seven Fleet Capital Management LP increased its position in Zai Lab by 74.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after purchasing an additional 58,158 shares during the period. Institutional investors own 41.65% of the company’s stock.

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.