Zai Lab (NASDAQ:ZLAB) Now Covered by Scotiabank

Scotiabank started coverage on shares of Zai Lab (NASDAQ:ZLAB) in a research note released on Friday morning, MarketBeat reports. The firm issued a sector outperform rating and a $55.00 target price on the stock.

A number of other equities analysts also recently issued reports on the stock. Bank of America reissued a “neutral” rating and issued a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a report on Monday, March 3rd. Cantor Fitzgerald upgraded shares of Zai Lab to a “strong-buy” rating in a research note on Tuesday.

Zai Lab Trading Up 2.9 %

ZLAB opened at $36.42 on Friday. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -13.15 and a beta of 1.02. The company’s 50 day moving average is $28.46 and its 200 day moving average is $26.45. Zai Lab has a 12-month low of $13.48 and a 12-month high of $37.99.

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 analysts’ consensus estimates of ($0.61) by ($0.19). The business had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. As a group, analysts predict that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Transactions at Zai Lab

In other news, insider Frazor Titus Edmondson III sold 14,544 shares of the business’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $32.98, for a total value of $479,661.12. Following the transaction, the insider now owns 14,328 shares of the company’s stock, valued at approximately $472,537.44. The trade was a 50.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ying Du sold 50,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $34.47, for a total transaction of $1,723,500.00. Following the transaction, the chief executive officer now owns 494,117 shares of the company’s stock, 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 sold a total of 122,127 shares of company stock valued at $4,024,442 over the last 90 days. Company insiders own 13.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. bought a new position in shares of Zai Lab during the 4th quarter valued at about $46,172,000. Geode Capital Management LLC boosted its holdings in shares of Zai Lab by 26.4% during the 3rd quarter. Geode Capital Management LLC now owns 43,626 shares of the company’s stock valued at $1,053,000 after purchasing an additional 9,107 shares during the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Zai Lab by 42.9% during the 4th quarter. Alberta Investment Management Corp now owns 232,293 shares of the company’s stock valued at $6,084,000 after purchasing an additional 69,740 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Zai Lab by 28.9% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,317 shares of the company’s stock valued at $4,801,000 after purchasing an additional 41,128 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Zai Lab during the 4th quarter valued at about $511,000. 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.