Zai Lab (NASDAQ:ZLAB) Trading 9.5% Higher – Still a Buy?

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) were up 9.5% on Wednesday . The stock traded as high as $20.45 and last traded at $20.6040. Approximately 108,673 shares were traded during trading, a decline of 85% from the average daily volume of 729,722 shares. The stock had previously closed at $18.81.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Cantor Fitzgerald dropped their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Finally, UBS Group assumed coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Zai Lab currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Zai Lab Trading Up 7.3%

The company’s 50-day moving average is $18.56 and its 200-day moving average is $21.93. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of -12.56 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The business had revenue of $127.60 million for the quarter. Equities research analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Yajing Chen sold 1,703 shares of Zai Lab stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $18.63, for a total transaction of $31,726.89. Following the sale, the chief financial officer directly owned 19,999 shares of the company’s stock, valued at approximately $372,581.37. The trade was a 7.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rafael Amado sold 2,957 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $18.63, for a total transaction of $55,088.91. Following the completion of the transaction, the insider directly owned 44,757 shares of the company’s stock, valued at approximately $833,822.91. The trade was a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,626 shares of company stock worth $123,442. Insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent reporting period. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.