Zai Lab (NASDAQ:ZLAB) has been given a $46.00 price objective by Leerink Swann in a research note issued on Tuesday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. Leerink Swann’s price target indicates a potential upside of 52.87% from the stock’s previous close.

A number of other analysts also recently issued reports on ZLAB. BidaskClub upgraded shares of Zai Lab from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Zacks Investment Research downgraded shares of Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, April 20th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $36.90.

ZLAB opened at $30.09 on Tuesday. Zai Lab has a fifty-two week low of $14.29 and a fifty-two week high of $33.86. The firm has a market cap of $1.74 billion, a P/E ratio of -11.40 and a beta of 0.96.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC increased its holdings in Zai Lab by 0.4% in the 1st quarter. FMR LLC now owns 5,835,589 shares of the company’s stock valued at $172,208,000 after acquiring an additional 25,011 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Zai Lab by 2.7% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock worth $26,652,000 after buying an additional 23,519 shares during the last quarter. Vanguard Group Inc. bought a new stake in shares of Zai Lab in the 3rd quarter worth about $14,955,000. BlackRock Inc. increased its holdings in shares of Zai Lab by 61.3% in the 1st quarter. BlackRock Inc. now owns 694,845 shares of the company’s stock worth $20,505,000 after buying an additional 264,135 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. increased its holdings in shares of Zai Lab by 25.0% in the 1st quarter. Tree Line Advisors Hong Kong Ltd. now owns 525,000 shares of the company’s stock worth $15,493,000 after buying an additional 105,000 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

Zai Lab Company Profile

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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