Zai Lab (NASDAQ:ZLAB) Reaches New 12-Month High at $37.15

Zai Lab Ltd (NASDAQ:ZLAB)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $37.15 and last traded at $37.04, with a volume of 5843 shares. The stock had previously closed at $35.64.

Several analysts recently commented on the company. Bank of America assumed coverage on Zai Lab in a research note on Friday, July 12th. They set a “buy” rating and a $43.00 price objective on the stock. Leerink Swann set a $47.00 price objective on Zai Lab and gave the stock a “buy” rating in a research note on Monday, July 15th. Zacks Investment Research downgraded Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. BidaskClub downgraded Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, Macquarie assumed coverage on Zai Lab in a research note on Friday, July 5th. They set an “outperform” rating and a $36.54 price objective on the stock. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Zai Lab has a consensus rating of “Buy” and a consensus target price of $38.25.

The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -14.26 and a beta of 1.35. The company has a 50 day moving average of $34.35 and a 200 day moving average of $30.57.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZLAB. Parallel Advisors LLC acquired a new stake in shares of Zai Lab in the 2nd quarter valued at about $36,000. Advisors Preferred LLC acquired a new stake in shares of Zai Lab in the 2nd quarter valued at about $54,000. JPMorgan Chase & Co. acquired a new stake in shares of Zai Lab in the 2nd quarter valued at about $59,000. Aperio Group LLC acquired a new stake in shares of Zai Lab in the 2nd quarter valued at about $95,000. Finally, Bank of America Corp DE raised its stake in shares of Zai Lab by 20.3% in the 4th quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock valued at $151,000 after purchasing an additional 1,103 shares during the period. 46.23% of the stock is currently owned by hedge funds and other institutional investors.

About Zai Lab (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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