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

Zai Lab (NASDAQ:ZLAB) issued its earnings results on Wednesday. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.93) by $0.38, Zacks reports. Zai Lab had a negative net margin of 125.46% and a negative return on equity of 37.07%. The company had revenue of $87.15 million for the quarter, compared to analysts’ expectations of $77.07 million. During the same period in the prior year, the business earned ($0.51) EPS.

Zai Lab Stock Up 23.6 %

Shares of ZLAB traded up $3.91 during trading hours on Thursday, reaching $20.48. 2,645,132 shares of the company traded hands, compared to its average volume of 640,533. The stock has a market capitalization of $2.03 billion, a P/E ratio of -5.97 and a beta of 1.11. The business has a fifty day moving average price of $16.78 and a 200-day moving average price of $22.12. Zai Lab has a 12-month low of $13.48 and a 12-month high of $39.50.

Insiders Place Their Bets

In other news, insider Joshua L. Smiley sold 1,988 shares of the firm’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 transaction, the insider now directly owns 28,684 shares in the company, valued at $449,478.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Joshua L. Smiley sold 1,988 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 28,684 shares of the company’s stock, valued at $449,478.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $47,979.84. Following the completion of the sale, the insider now directly owns 20,093 shares in the company, valued at $378,953.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,568 shares of company stock valued at $208,508. 5.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup lowered their target price on 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 reissued an “overweight” rating on shares of Zai Lab in a research report on Friday, January 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $64.22.

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.