Cantor Fitzgerald Raises Earnings Estimates for Zai Lab

Zai Lab Limited (NASDAQ:ZLAB) – Investment analysts at Cantor Fitzgerald increased their FY2024 earnings estimates for shares of Zai Lab in a note issued to investors on Wednesday, November 13th. Cantor Fitzgerald analyst L. Chen now expects that the company will post earnings per share of ($2.54) for the year, up from their previous forecast of ($3.16). Cantor Fitzgerald currently has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.73) per share.

Separately, JPMorgan Chase & Co. increased their price objective on shares of Zai Lab from $38.00 to $44.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Zai Lab Price Performance

Shares of ZLAB stock opened at $25.17 on Monday. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -9.30 and a beta of 1.04. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The company’s fifty day moving average price is $26.06 and its 200-day moving average price is $21.13.

Institutional Investors Weigh In On Zai Lab

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 51.2% in the 1st quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after buying an additional 904 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Zai Lab by 51.1% during the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after acquiring an additional 99,355 shares during the last quarter. Capital International Inc. CA raised its position in Zai Lab by 6.7% during the first quarter. Capital International Inc. CA now owns 92,108 shares of the company’s stock valued at $1,476,000 after purchasing an additional 5,815 shares during the period. Capital World Investors lifted its stake in shares of Zai Lab by 8.9% in the 1st quarter. Capital World Investors now owns 5,684,180 shares of the company’s stock valued at $91,061,000 after purchasing an additional 465,337 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of Zai Lab by 7.3% in the 1st quarter. Bamco Inc. NY now owns 1,599,865 shares of the company’s stock worth $25,630,000 after purchasing an additional 108,991 shares during the period. Institutional investors own 41.65% of the company’s stock.

Zai Lab Company Profile

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.