Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $37.25.

ZLAB has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Citigroup raised their price target on shares of Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research note on Tuesday, October 6th. Finally, 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.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $22.04 on Friday. The business has a fifty day moving average price of $25.27 and a 200 day moving average price of $21.77. Zai Lab has a one year low of $15.96 and a one year high of $28.75. The company has a market cap of $2.51 billion, a P/E ratio of -12.89 and a beta of 0.73.

Zai Lab (NASDAQ:ZLAB) last announced its quarterly earnings data on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative net margin of 41.86% and a negative return on equity of 27.43%. The firm had revenue of $106.31 million during the quarter. As a group, sell-side analysts predict that Zai Lab will post -2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William Lis sold 8,506 shares of the business’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 transaction of $212,650.00. Following the transaction, the director directly owned 41,931 shares in the company, valued at $1,048,275. The trade was a 16.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 9,385 shares of company stock valued at $235,145. Company insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthPlan Investment Management LLC acquired a new position in Zai Lab during the third quarter worth $969,000. Nykredit A S purchased a new position in shares of Zai Lab during the 2nd quarter worth $79,000. Seven Fleet Capital Management LP raised its holdings in shares of 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. Finally, Headlands Technologies LLC raised its holdings in shares of 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. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Ltd. (NASDAQ:ZLAB) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. Its research and development activities have included oncology, autoimmune and inflammatory disorders, neuroscience, infectious diseases and other areas of significant unmet medical need.

Founded in 2014, Zai Lab has built its business through a combination of internally developed programs and licensing or collaboration agreements with international pharmaceutical and biotechnology companies.