Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives $51.59 Consensus Price Target from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $51.5857.

A number of research firms have weighed in on ZLAB. UBS Group began coverage on Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Zai Lab from $46.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th.

Insider Activity

In other news, insider Rafael Amado sold 10,787 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total transaction 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 represents a 17.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.96% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC grew its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,396 shares of the company’s stock after acquiring an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $20.03 on Tuesday. The firm has a 50-day simple moving average of $18.06 and a 200-day simple moving average of $25.43. Zai Lab has a one year low of $15.96 and a one year high of $44.34. The firm has a market cap of $2.24 billion, a P/E ratio of -10.27 and a beta of 0.88.

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.