Zai Lab Ltd (NASDAQ:ZLAB) Receives Average Rating of “Buy” from Brokerages

Zai Lab Ltd (NASDAQ:ZLAB) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $40.31.

ZLAB has been the subject of several research analyst reports. Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. ValuEngine cut Zai Lab from a “buy” rating to a “hold” rating in a research report on Thursday. BidaskClub cut Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America initiated coverage on Zai Lab in a research report on Friday, July 12th. They set a “buy” rating and a $43.00 price objective for the company. Finally, Leerink Swann set a $47.00 price objective on Zai Lab and gave the stock a “buy” rating in a research report on Monday, July 15th.

Institutional investors and hedge funds have recently modified their holdings of the stock. Barclays PLC bought a new position in Zai Lab during the fourth quarter valued at about $65,000. Aperio Group LLC bought a new position in Zai Lab during the second quarter valued at about $95,000. Bank of America Corp DE increased its stake in Zai Lab by 20.3% during the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock valued at $151,000 after acquiring an additional 1,103 shares during the period. California Public Employees Retirement System increased its stake in Zai Lab by 15.7% during the fourth quarter. California Public Employees Retirement System now owns 32,273 shares of the company’s stock valued at $749,000 after acquiring an additional 4,372 shares during the period. Finally, Baillie Gifford & Co. bought a new position in Zai Lab during the first quarter valued at about $1,260,000. Hedge funds and other institutional investors own 37.71% of the company’s stock.

Shares of NASDAQ ZLAB traded down $0.55 during trading hours on Monday, hitting $31.49. 92,186 shares of the company’s stock were exchanged, compared to its average volume of 171,051. Zai Lab has a 1-year low of $14.29 and a 1-year high of $36.78. The firm has a 50-day moving average of $34.77.

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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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