Zai Lab (NASDAQ:ZLAB) Upgraded at UBS Group

Zai Lab (NASDAQ:ZLAB) was upgraded by UBS Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $53.30.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $18.50 on Wednesday. Zai Lab has a 1 year low of $16.82 and a 1 year high of $44.34. The firm has a market capitalization of $2.07 billion, a PE ratio of -9.49 and a beta of 0.83. The business’s 50 day moving average price is $19.79 and its 200-day moving average price is $28.72.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. The firm had revenue of $116.10 million during the quarter, compared to analysts’ expectations of $150.24 million. As a group, analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In related news, insider Rafael Amado sold 10,787 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the sale, the insider 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A number of institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in shares of Zai Lab in the 1st quarter valued at approximately $1,073,000. Royal Bank of Canada raised its position in shares of Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after buying an additional 9,390 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Zai Lab in the third quarter valued at approximately $331,000. 41.65% of the stock is owned by hedge funds and other 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.