Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $51.1667.

A number of equities analysts have commented on ZLAB shares. JPMorgan Chase & Co. decreased their target price on Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. UBS Group started coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price objective 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 cut Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Cantor Fitzgerald lowered their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, February 27th.

Insider Buying and Selling

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the business’s 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 transaction, the insider owned 52,391 shares in the company, valued at approximately $913,175.13. The trade was a 17.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Zai Lab Price Performance

Zai Lab stock opened at $19.54 on Friday. The company has a market cap of $2.20 billion, a PE ratio of -12.14 and a beta of 0.85. Zai Lab has a 12 month low of $15.96 and a 12 month high of $44.34. The company has a fifty day moving average price of $18.52 and a two-hundred day moving average price of $23.74.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The business had revenue of $127.60 million during the quarter, compared to the consensus estimate of $122.67 million. Equities research analysts anticipate that Zai Lab will post -2.58 earnings per share for the current year.

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.