Shares of Zai Lab Ltd (NASDAQ:ZLAB) have received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $37.50.

ZLAB has been the subject of several recent analyst reports. Zacks Investment Research raised Zai Lab from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, August 29th. Jefferies Financial Group initiated coverage on Zai Lab in a report on Wednesday. They set a “buy” rating for the company. Finally, BidaskClub lowered Zai Lab from a “buy” rating to a “hold” rating in a report on Friday, July 27th.

Shares of NASDAQ ZLAB opened at $17.17 on Wednesday. Zai Lab has a 12 month low of $14.29 and a 12 month high of $27.83. The stock has a market cap of $999.41 million, a PE ratio of -7.40 and a beta of 2.70.

A number of large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Zai Lab by 2.7% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,118 shares of the company’s stock worth $4,054,000 after buying an additional 5,473 shares during the last quarter. Bank of Montreal Can bought a new stake in Zai Lab in the 3rd quarter worth approximately $159,000. Northern Trust Corp bought a new stake in Zai Lab in the 2nd quarter worth approximately $224,000. Citadel Advisors LLC bought a new stake in Zai Lab in the 3rd quarter worth approximately $333,000. Finally, Soros Fund Management LLC bought a new stake in Zai Lab in the 3rd quarter worth approximately $341,000. Institutional investors own 26.44% of the company’s stock.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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