Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) have been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.00.

A number of equities analysts have issued reports on ZLAB shares. Weiss Ratings cut shares of Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Zacks Research upgraded shares of Zai Lab from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen cut Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Citigroup reduced their price target on Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, May 8th.

Insider Transactions at Zai Lab

In related news, Director William Lis sold 7,040 shares of Zai Lab stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $18.09, for a total value of $127,353.60. Following the sale, the director owned 50,437 shares in the company, valued at $912,405.33. The trade was a 12.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the chief executive officer owned 1,203,784 shares in the company, valued at approximately $22,306,117.52. This trade represents a 0.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 90,873 shares of company stock worth $1,730,096. 4.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada lifted its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,771 shares of the company’s stock after buying an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 41.65% of the company’s stock.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $20.75 on Friday. The firm has a market cap of $2.36 billion, a PE ratio of -12.81 and a beta of 0.76. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $41.20. The business has a 50 day moving average price of $18.61 and a 200-day moving average price of $19.12.

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

Zai Lab Company Profile

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.