Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $37.25.

Several equities research analysts have commented on the company. Wall Street Zen lowered Zai Lab from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Citigroup upped their target price on Zai Lab from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Zacks Research raised Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th.

Insider Activity

In other news, CFO Yajing Chen sold 2,264 shares of Zai Lab stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $17.46, for a total transaction of $39,529.44. Following the sale, the chief financial officer owned 35,691 shares in the company, valued at $623,164.86. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 8,506 shares of the business’s stock in a transaction on 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 SEC filing for this sale provides additional information. Insiders have sold 50,258 shares of company stock worth $960,741 over the last 90 days. Company insiders own 4.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its stake in Zai Lab by 214.3% during the 1st quarter. Royal Bank of Canada now owns 13,771 shares of the company’s stock valued at $498,000 after purchasing an additional 9,390 shares in the last quarter. Headlands Technologies LLC increased 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 purchasing an additional 39,901 shares during the last quarter. Finally, Seven Fleet Capital Management LP raised 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 in the last quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Stock Performance

Zai Lab stock opened at $26.48 on Friday. Zai Lab has a 1 year low of $15.96 and a 1 year high of $34.72. The firm has a 50 day moving average price of $21.74 and a 200 day moving average price of $20.27. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -15.49 and a beta of 0.83.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, June 30th. The company reported ($0.50) earnings per share for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%.The company had revenue of $106.31 million for the quarter. Sell-side analysts predict that Zai Lab will post -2.17 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.