Zai Lab (NASDAQ:ZLAB) Price Target Lowered to $37.00 at Cantor Fitzgerald

Zai Lab (NASDAQ:ZLAB) had its price objective decreased by Cantor Fitzgerald from $55.00 to $37.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 93.01% from the stock’s current price.

A number of other analysts have also commented on the company. JPMorgan Chase & Co. reduced their target price on Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group raised Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. UBS Group started coverage on shares of Zai Lab in a research note on Wednesday, January 7th. They set a “buy” rating and a $35.00 price target for the company. Finally, Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $49.76.

Zai Lab Stock Performance

Shares of Zai Lab stock traded down $0.52 during midday trading on Friday, reaching $19.17. 15,953 shares of the company’s stock traded hands, compared to its average volume of 726,650. The company has a market cap of $2.16 billion, a PE ratio of -9.82 and a beta of 0.88. The stock has a 50 day moving average of $18.42 and a 200-day moving average of $24.42. Zai Lab has a 12 month low of $15.96 and a 12 month high of $44.34.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). The firm had revenue of $127.60 million during the quarter, compared to the consensus estimate of $122.67 million. Zai Lab had a negative return on equity of 25.83% and a negative net margin of 46.83%. On average, equities analysts anticipate that Zai Lab will post -2.58 earnings per share for the current fiscal year.

Insider Activity

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the company’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total value of $188,017.41. Following the sale, the insider directly owned 52,391 shares of the company’s stock, valued at approximately $913,175.13. This represents a 17.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zai Lab

A hedge fund recently bought a new stake in Zai Lab stock. SG Americas Securities LLC purchased a new position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,754 shares of the company’s stock, valued at approximately $331,000. Hedge funds and other institutional investors own 41.65% of the company’s stock.

About Zai Lab

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.