JPMorgan Chase & Co. Cuts Zai Lab (NASDAQ:ZLAB) Price Target to $39.00

Zai Lab (NASDAQ:ZLAB) had its target price reduced by JPMorgan Chase & Co. from $46.00 to $39.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ZLAB has been the topic of a number of other research reports. UBS Group initiated coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research note on Wednesday, January 21st. Zacks Research cut shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Jefferies Financial Group upgraded Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Zai Lab currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

Zai Lab Price Performance

Shares of Zai Lab stock opened at $18.00 on Thursday. The stock’s 50-day moving average is $18.11 and its 200 day moving average is $26.10. Zai Lab has a one year low of $15.96 and a one year high of $44.34. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -9.23 and a beta of 0.88.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, November 6th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.05). The business had revenue of $116.10 million during the quarter, compared to the consensus estimate of $150.24 million. Zai Lab had a negative return on equity of 25.83% and a negative net margin of 46.83%. On average, sell-side analysts expect that Zai Lab will post -2.58 EPS for the current fiscal year.

Insider Activity

In other news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $17.43, for a total transaction of $188,017.41. Following the completion of the sale, the insider directly owned 52,391 shares of the company’s stock, valued at $913,175.13. The trade was a 17.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.96% of the stock is owned by corporate insiders.

Institutional Trading of Zai Lab

A hedge fund recently bought a new stake in Zai Lab stock. SG Americas Securities LLC bought a new stake in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,754 shares of the company’s stock, valued at approximately $331,000. 41.65% of the stock is owned by institutional investors and hedge funds.

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.