Zai Lab (NASDAQ:ZLAB) Posts Earnings Results, Beats Estimates By $0.38 EPS

Zai Lab (NASDAQ:ZLAB) released its quarterly earnings results on Wednesday. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.93) by $0.38, Zacks reports. Zai Lab had a negative return on equity of 37.07% and a negative net margin of 125.46%. The firm had revenue of $87.15 million during the quarter, compared to analyst estimates of $77.07 million. During the same period in the previous year, the company posted ($0.51) EPS.

Zai Lab Trading Up 24.7 %

Shares of ZLAB stock traded up $4.10 during trading hours on Thursday, reaching $20.67. 2,566,817 shares of the company’s stock were exchanged, compared to its average volume of 640,028. The stock has a market cap of $2.05 billion, a PE ratio of -5.97 and a beta of 1.11. The stock’s fifty day moving average price is $16.78 and its two-hundred day moving average price is $22.12. Zai Lab has a 1 year low of $13.48 and a 1 year high of $39.50.

Analyst Ratings Changes

ZLAB has been the subject of a number of recent research reports. Citigroup reduced their target price on shares of Zai Lab from $123.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Zai Lab in a research note on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $64.22.

Insider Buying and Selling

In other Zai Lab news, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $15.67, for a total transaction of $31,151.96. Following the transaction, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zai Lab news, insider Rafael Amado sold 2,544 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $18.86, for a total value of $47,979.84. Following the sale, the insider now directly owns 20,093 shares of the company’s stock, valued at $378,953.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joshua L. Smiley sold 1,988 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $15.67, for a total value of $31,151.96. Following the completion of the sale, the insider now owns 28,684 shares in the company, valued at approximately $449,478.28. The disclosure for this sale can be found here. Insiders sold 12,568 shares of company stock worth $208,508 in the last three months. Corporate insiders own 5.23% of the company’s stock.

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.