Zai Lab (NASDAQ:ZLAB) Upgraded at BidaskClub

BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a buy rating to a strong-buy rating in a report released on Monday, BidAskClub reports.

ZLAB has been the subject of several other reports. Citigroup upped their price objective on Zai Lab from $65.00 to $84.00 and gave the stock a buy rating in a research note on Monday, December 30th. ValuEngine lowered Zai Lab from a hold rating to a sell rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $46.04.

NASDAQ:ZLAB opened at $48.48 on Monday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -18.36 and a beta of 1.40. Zai Lab has a one year low of $23.42 and a one year high of $53.48. The business has a fifty day moving average price of $42.65 and a 200-day moving average price of $36.69.

Hedge funds have recently modified their holdings of the business. State Street Corp increased its stake in Zai Lab by 6.5% in the 3rd quarter. State Street Corp now owns 139,976 shares of the company’s stock worth $4,528,000 after buying an additional 8,556 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Zai Lab by 94.5% during the 2nd quarter. Morgan Stanley now owns 23,488 shares of the company’s stock valued at $819,000 after purchasing an additional 11,415 shares during the last quarter. Matthews International Capital Management LLC boosted its holdings in shares of Zai Lab by 34.7% during the 3rd quarter. Matthews International Capital Management LLC now owns 81,600 shares of the company’s stock valued at $2,640,000 after purchasing an additional 21,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Zai Lab by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,141,587 shares of the company’s stock valued at $39,807,000 after purchasing an additional 168,643 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Zai Lab by 66.1% during the 3rd quarter. Pictet Asset Management Ltd. now owns 84,503 shares of the company’s stock valued at $2,734,000 after purchasing an additional 33,628 shares during the last quarter. Institutional investors and hedge funds own 63.75% 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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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