Zai Lab (NASDAQ:ZLAB) Stock Price Up 9.5% – Time to Buy?

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB)’s share price shot up 9.5% during trading on Wednesday . The stock traded as high as $20.45 and last traded at $20.6040. 108,673 shares were traded during mid-day trading, a decline of 85% from the average session volume of 729,722 shares. The stock had previously closed at $18.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. UBS Group initiated coverage on shares of Zai Lab in a report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Jefferies Financial Group raised shares of Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. JPMorgan Chase & Co. cut their price target on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Finally, Cantor Fitzgerald decreased their price objective on Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Zai Lab presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.00.

Zai Lab Stock Up 7.3%

The stock has a 50 day moving average of $18.56 and a 200 day moving average of $21.93. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -12.56 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Saturday, February 14th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. The firm had revenue of $127.60 million for the quarter. As a group, sell-side analysts anticipate that Zai Lab Limited Unsponsored ADR will post -2.58 EPS for the current fiscal year.

Insider Activity

In related news, insider Rafael Amado sold 2,957 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $18.63, for a total value of $55,088.91. Following the transaction, the insider owned 44,757 shares in the company, valued at $833,822.91. The trade was a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Gaynor purchased 1,731 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were purchased at an average cost of $18.91 per share, for a total transaction of $32,733.21. Following the transaction, the director directly owned 56,630 shares of the company’s stock, valued at approximately $1,070,873.30. The trade was a 3.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 6,626 shares of company stock valued at $123,442. 4.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada increased its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. 41.65% of the stock is currently owned by institutional investors.

About Zai Lab

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.