Zai Lab (NASDAQ:ZLAB) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Zai Lab (NASDAQ:ZLAB) to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, October 8th. UBS Group started coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.30.

Zai Lab Trading Down 0.4%

ZLAB opened at $18.84 on Monday. Zai Lab has a twelve month low of $16.82 and a twelve month high of $44.34. The firm has a market capitalization of $2.11 billion, a PE ratio of -9.66 and a beta of 0.83. The firm’s 50-day moving average price is $18.89 and its 200 day moving average price is $27.58.

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

Insiders Place Their Bets

In related news, insider Rafael Amado sold 10,787 shares of Zai Lab stock in a transaction that occurred 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 completion of the sale, the insider owned 52,391 shares in the company, valued at approximately $913,175.13. This trade represents a 17.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.96% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada boosted its position in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. Institutional investors own 41.65% of the company’s stock.

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.