Zai Lab (NASDAQ:ZLAB) Sets New 1-Year High – Here’s Why

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) shares hit a new 52-week high during trading on Monday. The stock traded as high as $29.02 and last traded at $26.9950, with a volume of 339,005 shares trading hands. The stock had previously closed at $25.48.

Wall Street Analyst Weigh In

ZLAB has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Tuesday, October 6th. Wall Street Zen upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research note on Tuesday, October 27th. Finally, Citigroup raised their price target on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Zai Lab currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Zai Lab Price Performance

The company has a market capitalization of $3.31 billion, a P/E ratio of -14.77 and a beta of 0.77. The firm’s 50-day moving average is $24.65 and its 200-day moving average is $21.14.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.18. The business had revenue of $108.21 million for the quarter, compared to the consensus estimate of $107.90 million. Zai Lab had a negative net margin of 44.91% and a negative return on equity of 31.15%. As a group, analysts forecast that Zai Lab Limited Unsponsored ADR will post -2.19 EPS for the current fiscal year.

Institutional Trading of Zai Lab

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Zai Lab in the third quarter worth about $62,000. Nykredit A S bought a new stake in Zai Lab during the 2nd quarter worth approximately $79,000. China Universal Asset Management Co. Ltd. bought a new stake in Zai Lab during the 3rd quarter worth approximately $211,000. WealthPlan Investment Management LLC bought a new stake in Zai Lab during the 3rd quarter worth approximately $969,000. Finally, Headlands Technologies LLC lifted its holdings in Zai Lab by 142.0% during the second quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after purchasing an additional 39,901 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

About Zai Lab

Zai Lab is a biopharmaceutical company that discovers, develops and commercializes medicines for patients with serious diseases. Its research and development programs focus on oncology, immunology, neuroscience and infectious diseases. Founded in 2014 by biopharmaceutical executive Samantha Du, the company is headquartered in Shanghai and operates in China and the United States. It advances its own drug candidates and works with international partners to develop and bring therapies to market. Zai Lab’s portfolio includes medicines and development programs for cancers and other conditions, including therapies introduced through licensing and collaboration agreements.