Zai Lab (NASDAQ:ZLAB) Receives Overweight Rating from Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Friday, Benzinga reports.

Separately, JPMorgan Chase & Co. raised their target price on Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $57.71.

Zai Lab Stock Down 2.6 %

NASDAQ:ZLAB traded down $0.87 during trading hours on Friday, hitting $32.31. 370,638 shares of the company traded hands, compared to its average volume of 658,190. The firm’s 50-day simple moving average is $22.35 and its 200-day simple moving average is $19.36. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The company has a market cap of $3.22 billion, a PE ratio of -9.31 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The business had revenue of $100.50 million for the quarter, compared to analysts’ expectations of $94.46 million. As a group, equities research analysts expect that Zai Lab will post -2.94 EPS for the current year.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total value of $72,547.84. Following the completion of the transaction, the insider now owns 43,232 shares in the company, valued at $720,677.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.23% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZLAB. Hennion & Walsh Asset Management Inc. boosted its stake in Zai Lab by 35.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock worth $1,012,000 after purchasing an additional 16,659 shares during the period. BNP Paribas Financial Markets boosted its stake in Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after purchasing an additional 904 shares during the period. GSA Capital Partners LLP boosted its stake in Zai Lab by 313.5% in the 1st quarter. GSA Capital Partners LLP now owns 45,573 shares of the company’s stock worth $730,000 after purchasing an additional 34,552 shares during the period. Headlands Technologies LLC bought a new position in Zai Lab in the 1st quarter worth about $64,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Zai Lab by 51.1% during the 1st quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock valued at $4,706,000 after acquiring an additional 99,355 shares during the last quarter. Institutional investors 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.