Bank of America Reiterates “Neutral” Rating for Zai Lab (NASDAQ:ZLAB)

Bank of America reaffirmed their neutral rating on shares of Zai Lab (NASDAQ:ZLAB) in a research note released on Monday morning, Marketbeat.com reports. The brokerage currently has a $36.10 target price on the stock, up from their previous target price of $29.00.

Separately, Cantor Fitzgerald upgraded shares of Zai Lab to a “strong-buy” rating in a research report on Wednesday, February 5th.

Zai Lab Stock Performance

Zai Lab stock opened at $31.73 on Monday. Zai Lab has a fifty-two week low of $13.48 and a fifty-two week high of $36.60. The firm’s fifty day moving average price is $27.67 and its 200-day moving average price is $25.96. The stock has a market cap of $3.47 billion, a P/E ratio of -11.45 and a beta of 1.02.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Thursday, February 27th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.61) by ($0.19). Zai Lab had a negative return on equity of 36.97% and a negative net margin of 76.14%. The company had revenue of $109.07 million during the quarter, compared to analysts’ expectations of $110.15 million. Sell-side analysts predict that Zai Lab will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Rafael Amado sold 7,583 shares of the company’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $26.28, for a total transaction of $199,281.24. Following the completion of the sale, the insider now directly owns 33,834 shares in the company, valued at $889,157.52. This represents a 18.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 13.88% of the company’s stock.

Institutional Trading of Zai Lab

Several institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in Zai Lab by 34.2% during the third quarter. Janus Henderson Group PLC now owns 8,760,074 shares of the company’s stock valued at $211,488,000 after buying an additional 2,232,507 shares during the period. Wellington Management Group LLP boosted its position in Zai Lab by 18.4% during the third quarter. Wellington Management Group LLP now owns 8,436,606 shares of the company’s stock valued at $203,660,000 after buying an additional 1,312,115 shares during the period. FMR LLC raised its stake in shares of Zai Lab by 749.1% during the fourth quarter. FMR LLC now owns 5,475,505 shares of the company’s stock valued at $143,403,000 after acquiring an additional 4,830,646 shares during the last quarter. RTW Investments LP bought a new position in shares of Zai Lab during the fourth quarter valued at about $65,714,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Zai Lab by 30.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,354,025 shares of the company’s stock valued at $61,653,000 after acquiring an additional 548,378 shares during the last quarter. 41.65% of the stock is currently owned by hedge funds and other institutional investors.

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.