JPMorgan Chase & Co. Boosts Zai Lab (NASDAQ:ZLAB) Price Target to $44.00

Zai Lab (NASDAQ:ZLAB) had its target price upped by JPMorgan Chase & Co. from $38.00 to $44.00 in a research note released on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $57.71.

Zai Lab Trading Up 0.4 %

Shares of NASDAQ ZLAB opened at $28.94 on Monday. The stock has a market cap of $2.88 billion, a PE ratio of -8.29 and a beta of 1.08. Zai Lab has a 12-month low of $13.48 and a 12-month high of $31.22. The company has a 50-day moving average of $22.02 and a 200 day moving average of $19.26.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.16). Zai Lab had a negative net margin of 92.44% and a negative return on equity of 37.96%. The company had revenue of $100.50 million during the quarter, compared to analysts’ expectations of $94.46 million. On average, sell-side analysts forecast that Zai Lab will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Joshua L. Smiley sold 4,352 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $16.67, for a total transaction of $72,547.84. Following the completion of the sale, the insider now directly owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.23% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

Institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. grew its position in Zai Lab by 14.6% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 142,189 shares of the company’s stock valued at $3,432,000 after acquiring an additional 18,093 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Zai Lab by 18.9% in the second quarter. The Manufacturers Life Insurance Company now owns 117,224 shares of the company’s stock valued at $2,031,000 after purchasing an additional 18,654 shares in the last quarter. DCF Advisers LLC purchased a new stake in Zai Lab during the 2nd quarter worth approximately $528,000. XTX Topco Ltd lifted its holdings in Zai Lab by 19.2% during the 2nd quarter. XTX Topco Ltd now owns 29,283 shares of the company’s stock worth $507,000 after buying an additional 4,710 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Zai Lab by 91.9% in the 2nd quarter. Renaissance Technologies LLC now owns 28,214 shares of the company’s stock valued at $489,000 after buying an additional 13,514 shares during the period. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.