Zai Lab (NASDAQ:ZLAB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also issued reports on ZLAB. Zacks Research raised Zai Lab from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Citigroup lifted their price objective 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. Finally, Weiss Ratings upgraded shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Zai Lab Stock Up 2.8%

Shares of Zai Lab stock opened at $25.69 on Friday. Zai Lab has a 12 month low of $15.96 and a 12 month high of $34.72. The business has a fifty day simple moving average of $23.90 and a 200 day simple moving average of $21.03. The stock has a market cap of $2.92 billion, a PE ratio of -15.02 and a beta of 0.83.

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

Insiders Place Their Bets

In other Zai Lab news, Director William Lis sold 8,506 shares of Zai Lab stock in a transaction dated 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 approximately $1,048,275. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 9,385 shares of company stock worth $235,145 in the last 90 days. Insiders own 4.88% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

Hedge funds have recently modified their holdings of the business. Seven Fleet Capital Management LP grew its position in shares of Zai Lab by 74.7% in the 2nd quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock valued at $2,584,000 after purchasing an additional 58,158 shares during the period. Headlands Technologies LLC raised its holdings in 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 buying an additional 39,901 shares during the period. Finally, Nykredit A S acquired a new stake in Zai Lab during the 2nd quarter worth approximately $79,000. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

Zai Lab Limited is a biopharmaceutical company focused on discovering, developing and commercializing medicines for significant unmet medical needs. The company’s research and development activities have centered on oncology, autoimmune and inflammatory diseases, infectious diseases, and neuroscience. Zai Lab operates through a combination of internally developed programs and collaborations with global pharmaceutical and biotechnology companies.

The company has built a commercial portfolio in Greater China that has included ZEJULA (niraparib), a PARP inhibitor used in certain ovarian cancer settings; QINLOCK (ripretinib), a treatment for gastrointestinal stromal tumors; and NUZYRA (omadacycline), an antibiotic for certain bacterial infections.