Cantor Fitzgerald Analysts Raise Earnings Estimates for Zai Lab Limited (NASDAQ:ZLAB)

Zai Lab Limited (NASDAQ:ZLAB) – Equities research analysts at Cantor Fitzgerald lifted their FY2024 EPS estimates for Zai Lab in a report released on Tuesday, April 23rd. Cantor Fitzgerald analyst L. Chen now anticipates that the company will earn ($3.50) per share for the year, up from their prior estimate of ($3.53). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($3.27) per share.

Separately, Citigroup cut their price target on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $64.22.

Zai Lab Trading Up 1.1 %

Shares of ZLAB opened at $15.91 on Thursday. The stock has a market capitalization of $1.58 billion, a P/E ratio of -4.61 and a beta of 1.10. The firm’s fifty day simple moving average is $17.45 and its two-hundred day simple moving average is $22.58. Zai Lab has a 12 month low of $13.48 and a 12 month high of $39.50.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, February 27th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.11). The firm had revenue of $65.83 million for the quarter, compared to the consensus estimate of $70.41 million. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%.

Hedge Funds Weigh In On Zai Lab

Large investors have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. lifted its position in Zai Lab by 68.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,371 shares of the company’s stock valued at $33,000 after acquiring an additional 557 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Zai Lab by 58.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 1,896 shares of the company’s stock valued at $46,000 after acquiring an additional 700 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Zai Lab by 1,923.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after acquiring an additional 2,424 shares in the last quarter. Sectoral Asset Management Inc. increased its stake in Zai Lab by 33.3% in the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock valued at $109,000 after buying an additional 1,000 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Zai Lab in the 4th quarter valued at about $116,000. Institutional investors own 41.65% of the company’s stock.

Insider Transactions at Zai Lab

In other news, insider Rafael Amado sold 2,544 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the transaction, the insider now owns 20,093 shares of the company’s stock, valued at approximately $378,953.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ying Du sold 5,787 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $16.15, for a total value of $93,460.05. Following the transaction, the chief executive officer now owns 1,107,972 shares of the company’s stock, valued at approximately $17,893,747.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rafael Amado sold 2,544 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $18.86, for a total transaction of $47,979.84. Following the completion of the transaction, the insider now directly owns 20,093 shares in the company, valued at approximately $378,953.98. The disclosure for this sale can be found here. Insiders have sold 12,568 shares of company stock valued at $208,508 in the last 90 days. 5.23% of the stock is currently owned by corporate insiders.

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.