Zai Lab (NASDAQ:ZLAB) Earns Buy Rating from Analysts at Bank of America

Investment analysts at Bank of America initiated coverage on shares of Zai Lab (NASDAQ:ZLAB) in a note issued to investors on Friday, The Fly reports. The brokerage set a “buy” rating on the stock.

Several other research analysts have also recently weighed in on ZLAB. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Leerink Swann set a $453.00 price target on shares of Regeneron Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, June 11th. Macquarie assumed coverage on shares of Baozun in a research report on Friday, July 5th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Zacks Investment Research lowered shares of Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $36.81.

Shares of Zai Lab stock traded up $0.28 during trading on Friday, hitting $36.06. The stock had a trading volume of 232 shares, compared to its average volume of 189,222. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -13.66 and a beta of 1.36. Zai Lab has a 12 month low of $14.29 and a 12 month high of $36.68. The company’s 50-day moving average price is $31.36.

A number of large investors have recently made changes to their positions in ZLAB. Barclays PLC purchased a new position in Zai Lab in the fourth quarter worth $65,000. Bank of America Corp DE grew its position in Zai Lab by 20.3% in the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after acquiring an additional 1,103 shares in the last quarter. RBF Capital LLC purchased a new position in Zai Lab in the fourth quarter worth $348,000. California Public Employees Retirement System grew its position in Zai Lab by 15.7% in the fourth quarter. California Public Employees Retirement System now owns 32,273 shares of the company’s stock worth $749,000 after acquiring an additional 4,372 shares in the last quarter. Finally, Baillie Gifford & Co. purchased a new position in Zai Lab in the first quarter worth $1,260,000. Institutional investors own 36.19% of the company’s stock.

Zai Lab Company Profile

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.

Read More: What is the Ex-Dividend Date in Investing?

The Fly

Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply