Zai Lab’s (ZLAB) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Zai Lab (NASDAQ:ZLAB) in a report published on Thursday morning,Benzinga reports.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Zai Lab from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Scotiabank assumed coverage on Zai Lab in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 target price on the stock. Finally, Bank of America reaffirmed a “neutral” rating and set a $36.10 price target (up from $29.00) on shares of Zai Lab in a report on Monday, March 3rd.

Zai Lab Trading Up 3.1 %

Shares of ZLAB opened at $37.29 on Thursday. The stock has a market cap of $4.09 billion, a PE ratio of -13.46 and a beta of 1.08. Zai Lab has a 1 year low of $13.48 and a 1 year high of $39.77. The stock has a 50 day simple moving average of $31.76 and a 200-day simple moving average of $28.31.

Zai Lab (NASDAQ:ZLAB) last issued 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). Zai Lab had a negative net margin of 76.14% and a negative return on equity of 36.97%. The company had revenue of $109.07 million for the quarter, compared to the consensus estimate of $110.15 million. On average, sell-side analysts forecast that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Transactions at Zai Lab

In other news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $26.28, for a total transaction of $199,281.24. Following the transaction, the insider now owns 33,834 shares of the company’s stock, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ying Du sold 50,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $34.47, for a total value of $1,723,500.00. Following the completion of the transaction, the chief executive officer now owns 494,117 shares in the company, 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. Over the last three months, insiders have sold 125,127 shares of company stock worth $4,139,672. Corporate insiders own 13.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZLAB. GF Fund Management CO. LTD. bought a new position in shares of Zai Lab during the 4th quarter worth approximately $29,000. Public Employees Retirement System of Ohio lifted its position in Zai Lab by 20.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 18,480 shares of the company’s stock worth $484,000 after acquiring an additional 3,179 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Zai Lab by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,114 shares of the company’s stock worth $1,496,000 after acquiring an additional 1,200 shares during the period. Woodline Partners LP grew its position in shares of Zai Lab by 9.4% in the fourth quarter. Woodline Partners LP now owns 1,759,797 shares of the company’s stock valued at $46,089,000 after purchasing an additional 151,835 shares during the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Zai Lab during the fourth quarter worth approximately $7,857,000. 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.