Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $45.8333.

A number of research firms have weighed in on ZLAB. Weiss Ratings cut Zai Lab from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 4th. Citigroup reduced their target price on shares of Zai Lab from $47.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Cantor Fitzgerald lowered their price target on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Finally, Wall Street Zen lowered shares of Zai Lab from a “hold” rating to a “sell” rating in a report on Saturday, May 16th.

Zai Lab Stock Performance

NASDAQ ZLAB opened at $18.18 on Monday. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -11.22 and a beta of 0.79. Zai Lab has a one year low of $15.96 and a one year high of $41.20. The company’s 50 day moving average price is $19.72 and its 200 day moving average price is $19.00.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Wednesday, April 1st. The company reported ($0.50) earnings per share for the quarter. The company had revenue of $99.61 million during the quarter. Zai Lab had a negative return on equity of 24.32% and a negative net margin of 39.29%. Sell-side analysts forecast that Zai Lab will post -2.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Yajing Chen sold 5,199 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $106,007.61. Following the completion of the transaction, the chief financial officer owned 32,558 shares of the company’s stock, valued at approximately $663,857.62. This represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Rafael Amado sold 9,910 shares of Zai Lab stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $20.39, for a total value of $202,064.90. Following the sale, the insider owned 59,761 shares in the company, valued at $1,218,526.79. This represents a 14.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 89,561 shares of company stock worth $1,811,705. 4.88% of the stock is owned by insiders.

Institutional Trading of Zai Lab

A hedge fund recently raised its stake in Zai Lab stock. Royal Bank of Canada raised its stake in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,771 shares of the company’s stock after acquiring an additional 9,390 shares during the quarter. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 at the end of the most recent quarter. Institutional investors and hedge funds own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.