Zai Lab (NASDAQ:ZLAB) Given New $44.00 Price Target at JPMorgan Chase & Co.

Zai Lab (NASDAQ:ZLAB) had its target price boosted by JPMorgan Chase & Co. from $38.00 to $44.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Zai Lab in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Zai Lab has an average rating of “Buy” and a consensus price target of $57.71.

Zai Lab Trading Up 14.7 %

NASDAQ ZLAB opened at $33.18 on Monday. The firm’s fifty day moving average price is $22.35 and its two-hundred day moving average price is $19.36. Zai Lab has a 1 year low of $13.48 and a 1 year high of $36.60. The firm has a market capitalization of $3.31 billion, a P/E ratio of -9.51 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The firm had revenue of $100.50 million for the quarter, compared to the consensus estimate of $94.46 million. On average, research analysts anticipate that Zai Lab will post -2.94 EPS for the current fiscal year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now directly owns 43,232 shares in the company, valued at $720,677.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.23% of the company’s stock.

Hedge Funds Weigh In On Zai Lab

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after acquiring an additional 904 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Zai Lab in the first quarter valued at about $64,000. Swedbank AB acquired a new position in shares of Zai Lab in the first quarter valued at about $244,000. Dimensional Fund Advisors LP acquired a new position in shares of Zai Lab in the second quarter valued at about $270,000. Finally, Tidal Investments LLC acquired a new position in shares of Zai Lab in the first quarter valued at about $334,000. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.