Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $40.00.

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Zacks Research raised shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 26th. Finally, Citigroup reduced their target price on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating for the company in a report on Friday, May 8th.

Zai Lab Trading Down 1.6%

NASDAQ ZLAB opened at $19.30 on Friday. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of -11.91 and a beta of 0.76. The company has a 50 day moving average of $18.60 and a 200-day moving average of $19.09. Zai Lab has a 1-year low of $15.96 and a 1-year high of $41.20.

Zai Lab (NASDAQ:ZLAB) last announced its earnings results on Wednesday, April 1st. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%.The business had revenue of $99.61 million during the quarter. On average, analysts forecast that Zai Lab will post -2.23 earnings per share for the current year.

Insider Activity

In other news, CEO Ying Du sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $20.09, for a total transaction of $1,004,500.00. Following the transaction, the chief executive officer owned 1,122,626 shares in the company, valued at approximately $22,553,556.34. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Yajing Chen sold 2,264 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $17.46, for a total value of $39,529.44. Following the sale, the chief financial officer directly owned 35,691 shares in the company, valued at approximately $623,164.86. This trade represents a 5.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 90,873 shares of company stock valued at $1,730,096. 4.88% of the stock is owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,771 shares of the company’s stock after purchasing an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 41.65% of the company’s stock.

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.