Zai Lab Limited (NASDAQ:ZLAB) to Post FY2024 Earnings of ($3.50) Per Share, Cantor Fitzgerald Forecasts

Zai Lab Limited (NASDAQ:ZLAB) – Equities researchers at Cantor Fitzgerald lifted their FY2024 EPS estimates for Zai Lab in a note issued to investors on Tuesday, April 23rd. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of ($3.50) for the year, up from their previous forecast of ($3.53). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($3.28) per share.

Separately, Citigroup dropped their price objective on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $64.22.

Zai Lab Price Performance

ZLAB stock opened at $15.74 on Thursday. The company has a fifty day moving average price of $17.54 and a 200 day moving average price of $22.64. Zai Lab has a 12 month low of $13.48 and a 12 month high of $39.50. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -4.56 and a beta of 1.10.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Tuesday, February 27th. The company reported ($0.98) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.11). The company had revenue of $65.83 million for the quarter, compared to analysts’ expectations of $70.41 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%.

Institutional Trading of Zai Lab

Large investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its position in shares of Zai Lab by 68.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock worth $33,000 after buying an additional 557 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Zai Lab by 58.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock worth $46,000 after purchasing an additional 700 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Zai Lab by 1,923.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock worth $70,000 after purchasing an additional 2,424 shares during the last quarter. Sectoral Asset Management Inc. lifted its stake in Zai Lab by 33.3% during the fourth quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock worth $109,000 after purchasing an additional 1,000 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Zai Lab during the fourth quarter worth $116,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Insider Buying and Selling at Zai Lab

In other news, insider Rafael Amado sold 2,544 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rafael Amado sold 2,544 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,568 shares of company stock worth $208,508. Corporate insiders own 5.23% 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.