Zai Lab (NASDAQ:ZLAB) Reaches New 12-Month High at $59.98

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Zai Lab Ltd (NASDAQ:ZLAB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.98 and last traded at $59.77, with a volume of 5172 shares trading hands. The stock had previously closed at $59.69.

Several equities analysts recently issued reports on ZLAB shares. Zacks Investment Research upgraded shares of Zai Lab from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research report on Saturday, February 8th. Citigroup upped their price objective on shares of Zai Lab from $65.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, December 30th. Finally, BidaskClub upgraded shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Monday, January 20th. One equities research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $54.11.

The firm has a market cap of $3.60 billion, a PE ratio of -22.93 and a beta of 1.34. The stock’s fifty day simple moving average is $49.19 and its two-hundred day simple moving average is $38.88.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sensato Investors LLC lifted its position in Zai Lab by 24.2% during the fourth quarter. Sensato Investors LLC now owns 75,000 shares of the company’s stock valued at $3,119,000 after purchasing an additional 14,600 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Zai Lab by 14,918.8% during the fourth quarter. Cubist Systematic Strategies LLC now owns 17,572 shares of the company’s stock valued at $731,000 after purchasing an additional 17,455 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Zai Lab during the fourth quarter valued at $3,503,000. Bank of America Corp DE lifted its position in Zai Lab by 19.9% during the fourth quarter. Bank of America Corp DE now owns 2,666 shares of the company’s stock valued at $110,000 after purchasing an additional 442 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Zai Lab during the fourth quarter valued at $240,000. Institutional investors and hedge funds own 63.76% of the company’s stock.

Zai Lab Company Profile (NASDAQ:ZLAB)

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.

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