Brokerages Set Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) PT at $37.25

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $37.25.

Several research analysts have recently issued reports on ZLAB shares. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Zacks Research raised Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Citigroup lifted their target price on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 7th.

Insider Transactions at Zai Lab

In related news, Director William Lis sold 8,506 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.00, for a total value of $212,650.00. Following the sale, the director directly owned 41,931 shares in the company, valued at $1,048,275. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ying Du sold 24,543 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $428,520.78. Following the sale, the chief executive officer directly owned 1,192,840 shares of the company’s stock, valued at $20,826,986.40. This represents a 2.02% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 50,258 shares of company stock worth $960,741 over the last ninety days. 4.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently modified their holdings of ZLAB. Royal Bank of Canada lifted its holdings in Zai Lab by 214.3% in the first quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after buying an additional 9,390 shares during the period. Headlands Technologies LLC grew its holdings in Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock worth $1,292,000 after acquiring an additional 39,901 shares during the period. Finally, Seven Fleet Capital Management LP grew its holdings in Zai Lab by 74.7% during the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock worth $2,584,000 after acquiring an additional 58,158 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Stock Performance

Shares of NASDAQ:ZLAB opened at $26.23 on Friday. Zai Lab has a 52-week low of $15.96 and a 52-week high of $34.72. The company has a market capitalization of $2.98 billion, a PE ratio of -15.34 and a beta of 0.83. The company has a fifty day moving average of $22.07 and a 200-day moving average of $20.36.

Zai Lab (NASDAQ:ZLAB) last released its quarterly earnings data on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. The firm had revenue of $106.31 million for the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. On average, equities analysts forecast that Zai Lab will post -2.17 EPS for the current fiscal year.

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.