Zai Lab (NASDAQ:ZLAB) Stock Rating Upgraded by Zacks Research

Zai Lab (NASDAQ:ZLAB) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on ZLAB. Wall Street Zen downgraded Zai Lab from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Citigroup cut their price objective 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. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Zai Lab from $39.00 to $32.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Zai Lab has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Zai Lab Price Performance

Shares of ZLAB stock opened at $19.75 on Tuesday. Zai Lab has a 1 year low of $15.96 and a 1 year high of $41.20. The stock’s 50 day simple moving average is $18.72 and its two-hundred day simple moving average is $19.04. The company has a market cap of $2.25 billion, a PE ratio of -12.19 and a beta of 0.76.

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

Insider Transactions at Zai Lab

In related news, CFO Yajing Chen sold 2,264 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $17.46, for a total transaction of $39,529.44. Following the completion of the sale, the chief financial officer directly owned 35,691 shares of the company’s stock, valued at approximately $623,164.86. This trade represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 7,040 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $18.09, for a total value of $127,353.60. Following the sale, the director directly owned 50,437 shares of the company’s stock, valued at $912,405.33. This represents a 12.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 90,873 shares of company stock worth $1,730,096. 4.88% of the stock is currently owned by company insiders.

Institutional Trading of Zai Lab

An institutional investor recently raised its stake in Zai Lab stock. Royal Bank of Canada increased its stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,771 shares of the company’s stock after buying an additional 9,390 shares during the period. Royal Bank of Canada’s holdings in Zai Lab were worth $498,000 as of its most recent SEC filing. 41.65% of the stock is currently owned by institutional investors.

Zai Lab Company Profile

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.