Zacks Research Upgrades Zai Lab (NASDAQ:ZLAB) to “Hold”

Zai Lab (NASDAQ:ZLAB) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 26th. Citigroup reduced their target price on Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, JPMorgan Chase & Co. dropped their price target on Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Zai Lab has an average rating of “Moderate Buy” and an average price target of $40.00.

Zai Lab Stock Performance

ZLAB stock opened at $19.75 on Tuesday. Zai Lab has a one year low of $15.96 and a one year high of $41.20. The company’s fifty day moving average price is $18.72 and its 200-day moving average price is $19.04. The company has a market capitalization of $2.25 billion, a PE ratio of -12.19 and a beta of 0.76.

Zai Lab (NASDAQ:ZLAB) last posted its earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $99.61 million for the quarter. Zai Lab had a negative net margin of 39.29% and a negative return on equity of 24.32%. On average, research analysts predict that Zai Lab will post -2.23 EPS for the current fiscal year.

Insider Activity at Zai Lab

In other Zai Lab news, CEO Ying Du sold 7,026 shares of Zai Lab stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $18.53, for a total transaction of $130,191.78. Following the completion of the transaction, the chief executive officer directly owned 1,203,784 shares of the company’s stock, valued at $22,306,117.52. The trade was a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 7,040 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $18.09, for a total transaction of $127,353.60. Following the transaction, the director owned 50,437 shares in the company, valued at $912,405.33. This trade represents a 12.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 90,873 shares of company stock worth $1,730,096. Company insiders own 4.88% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

An institutional investor recently raised its stake in Zai Lab stock. SG Americas Securities LLC increased its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the period. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent quarter. 41.65% of the stock is currently owned by institutional investors.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.