Zai Lab (NASDAQ:ZLAB) Given a $75.00 Price Target by Leerink Partners Analysts

Zai Lab (NASDAQ:ZLAB) has been given a $75.00 target price by investment analysts at Leerink Partners in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price target would suggest a potential upside of 111.33% from the company’s current price.

ZLAB has been the subject of a number of other research reports. Wall Street Zen lowered shares of Zai Lab from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Scotiabank started coverage on shares of Zai Lab in a research report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and set a $36.10 price objective (up previously from $29.00) on shares of Zai Lab in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $54.28.

Zai Lab Stock Up 0.9%

ZLAB stock traded up $0.32 during mid-day trading on Monday, reaching $35.49. 424,232 shares of the stock traded hands, compared to its average volume of 910,166. Zai Lab has a 52 week low of $16.01 and a 52 week high of $44.34. The business has a 50-day moving average of $33.66 and a two-hundred day moving average of $31.25. The firm has a market capitalization of $3.94 billion, a PE ratio of -14.25 and a beta of 0.99.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.05. Zai Lab had a negative net margin of 60.26% and a negative return on equity of 33.35%. The company had revenue of $106.49 million during the quarter, compared to analysts’ expectations of $118.40 million. On average, equities research analysts anticipate that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other news, Director William Lis sold 13,814 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $35.67, for a total transaction of $492,745.38. Following the completion of the sale, the director owned 35,106 shares of the company’s stock, valued at approximately $1,252,231.02. This trade represents a 28.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $28.57, for a total transaction of $1,428,500.00. Following the sale, the chief executive officer directly owned 479,851 shares in the company, valued at $13,709,343.07. This trade represents a 9.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,826 shares of company stock worth $4,900,539. 4.96% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

Hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Zai Lab during the fourth quarter valued at approximately $29,000. Pictet Asset Management Holding SA bought a new stake in shares of Zai Lab during the fourth quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd bought a new position in Zai Lab in the first quarter valued at approximately $75,000. Advisors Preferred LLC bought a new position in Zai Lab in the first quarter valued at approximately $110,000. Finally, Barclays PLC boosted its stake in Zai Lab by 337.6% in the fourth quarter. Barclays PLC now owns 3,702 shares of the company’s stock valued at $97,000 after acquiring an additional 2,856 shares during the last quarter. 41.65% of the stock is owned by institutional investors.

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.