Zacks Investment Research upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a report published on Saturday, Zacks.com reports.

According to Zacks, “Zai Lab Ltd is a biopharmaceutical company. It focused on medicines for cancer, autoimmune and infectious diseases primarily in China. The company’s product pipeline consists of ZL-2306, ZL-2401, ZL-2301, ZL-3101, ZL-2302 and ZL-1101 which are in clinical stage. Zai Lab Ltd is based in Pudong, China. “

A number of other analysts also recently issued reports on ZLAB. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research report on Thursday, January 17th. Credit Suisse Group initiated coverage on Zai Lab in a research report on Tuesday, January 29th. They issued an outperform rating and a $34.70 price target for the company. Finally, ValuEngine upgraded Zai Lab from a hold rating to a buy rating in a research report on Thursday, February 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Zai Lab presently has an average rating of Buy and an average target price of $34.57.

Shares of ZLAB opened at $31.03 on Friday. The firm has a market capitalization of $1.82 billion, a P/E ratio of -11.75 and a beta of 1.22. Zai Lab has a 52-week low of $14.29 and a 52-week high of $33.86.

Several large investors have recently added to or reduced their stakes in ZLAB. Legal & General Group Plc bought a new stake in shares of Zai Lab during the third quarter worth $42,000. Barclays PLC bought a new stake in shares of Zai Lab during the fourth quarter worth $65,000. Bank of America Corp DE lifted its position in shares of Zai Lab by 20.3% during the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after purchasing an additional 1,103 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Zai Lab by 18.5% during the fourth quarter. Bank of Montreal Can now owns 9,692 shares of the company’s stock worth $225,000 after purchasing an additional 1,512 shares during the last quarter. Finally, Matthews International Capital Management LLC bought a new stake in shares of Zai Lab during the fourth quarter worth $270,000. Institutional investors and hedge funds own 36.48% of the company’s stock.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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