Cantor Fitzgerald Cuts Zai Lab (NASDAQ:ZLAB) Price Target to $37.00

Zai Lab (NASDAQ:ZLAB) had its target price reduced by Cantor Fitzgerald from $55.00 to $37.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on ZLAB. JPMorgan Chase & Co. decreased their price objective on shares of Zai Lab from $46.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Zacks Research downgraded Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. UBS Group initiated coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 target price for the company. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Zai Lab has a consensus rating of “Moderate Buy” and a consensus target price of $49.76.

Zai Lab Stock Performance

NASDAQ:ZLAB opened at $19.22 on Friday. The firm has a market capitalization of $2.17 billion, a PE ratio of -11.94 and a beta of 0.85. The stock’s fifty day moving average is $18.44 and its 200 day moving average is $24.16. Zai Lab has a fifty-two week low of $15.96 and a fifty-two week high of $44.34.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). The firm had revenue of $127.60 million for the quarter, compared to the consensus estimate of $122.67 million. Zai Lab had a negative net margin of 38.15% and a negative return on equity of 22.81%. Equities analysts forecast that Zai Lab will post -2.58 EPS for the current year.

Insider Buying and Selling

In other Zai Lab news, insider Rafael Amado sold 10,787 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the sale, the insider owned 52,391 shares in the company, valued at approximately $913,175.13. The trade was a 17.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. Royal Bank of Canada grew its position in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 214.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,771 shares of the company’s stock after acquiring 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. Hedge funds and other institutional investors 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.