Zai Lab (NASDAQ:ZLAB) Releases Earnings Results

Zai Lab (NASDAQ:ZLAB) issued its earnings results on Wednesday. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.38, Zacks reports. The firm had revenue of $87.15 million for the quarter, compared to the consensus estimate of $77.07 million. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. During the same quarter last year, the business posted ($0.51) EPS.

Zai Lab Stock Performance

Shares of ZLAB opened at $21.01 on Friday. Zai Lab has a 52 week low of $13.48 and a 52 week high of $39.50. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -6.09 and a beta of 1.11. The stock has a fifty day moving average of $16.78 and a 200-day moving average of $22.11.

Analysts Set New Price Targets

A number of brokerages have weighed in on ZLAB. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a report on Friday, January 12th. Citigroup dropped their price target on Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $64.22.

Insider Buying and Selling

In related news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $15.67, for a total transaction of $31,151.96. Following the completion of the transaction, the insider now directly owns 28,684 shares of the company’s stock, valued at approximately $449,478.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $18.86, for a total value of $47,979.84. Following the transaction, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The disclosure for this sale can be found here. Insiders sold a total of 12,568 shares of company stock valued at $208,508 in the last three months. Insiders own 5.23% 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.