Zai Lab Limited (NASDAQ:ZLAB) Receives Consensus Target Price of $161.71 from Analysts



Zai Lab Limited (NASDAQ:ZLAB – Get Rating) received an average recommendation of “Buy” from the eight research firms that currently cover the company, MarketBeat Ratings reports. Two investment analysts rated the stock with a hold recommendation and five gave the company a buy recommendation. The 1-year average price target among brokers who have reported on the stock in the past year is $161.71.

A number of equity research analysts have recently released reports on the stock. SVB Leerink lowered its price target on Zai Lab shares from $194.00 to $102.00 and set an “outperform” rating for the company in a Wednesday, March 2 report. Macquarie began covering Zai Lab shares in a report on Friday, January 21. They issued an “outperform” rating and a $64.00 price target on the stock. JPMorgan Chase & Co. cut its price target on Zai Lab from $136.00 to $112.00 and set an “overweight” rating on the stock in a Monday, April 4 research report. Finally, Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a Thursday, April 7 research report.

In other news, Director William Lis sold 1,926 shares of Zai Lab in a trade on Thursday, January 20. The shares were sold at an average price of $53.40, for a total value of $102,848.40. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, director John D. Diekman sold 1,000 shares of the company in a trade on Friday, February 4. The stock was sold at an average price of $50.17, for a total transaction of $50,170.00. The disclosure of this sale can be found here. Company insiders hold 6.26% of the company’s shares.

Several institutional investors and hedge funds have recently changed their positions in the company. Invesco Ltd. increased its stake in Zai Lab by 54.3% during the 4th quarter. Invesco Ltd. now owns 7,251,543 shares of the company valued at $455,759,000 after acquiring an additional 2,552,103 shares in the last quarter. Baillie Gifford & Co. increased its stake in Zai Lab shares by 5.0% during the fourth quarter. Baillie Gifford & Co. now owns 5,138,846 shares of the company worth $322,975,000 after purchasing an additional 243,565 shares in the last quarter. BlackRock Inc. increased its holdings of Zai Lab shares by 2.1% during the third quarter. BlackRock Inc. now owns 3,985,650 shares of the company worth $420,050,000 after purchasing an additional 83,791 shares during the period. Wellington Management Group LLP increased its position in Zai Lab by 4.2% in Q3. Wellington Management Group LLP now owns 3,605,290 shares of the company valued at $379,962,000 after purchasing an additional 145,394 shares in the last quarter. Finally, Viking Global Investors LP increased its position in Zai Lab by 90.5% during the 3rd quarter. Viking Global Investors LP now owns 2,932,456 shares of the company worth $309,052,000 after purchasing an additional 1,393,199 shares in the last quarter. Institutional investors and hedge funds hold 66.97% of the company’s shares.

NASDAQ:ZLAB shares opened at $42.45 on Friday. Zai Lab has a 52-week low of $25.74 and a 52-week high of $181.92. The stock has a market capitalization of $4.09 billion, a P/E ratio of -5.55 and a beta of 1.20. The company has a fifty-day moving average of $46.10 and a two-hundred-day moving average of $66.50.

Zai Lab Company Profile (Get a rating)

Zai Lab Limited develops and markets therapies to treat oncology, autoimmune diseases, infectious diseases and neuroscience primarily in Mainland China and Hong Kong. The Company’s commercial products include Zejula, a once-daily small molecule polymerase 1/2 inhibitor; Optune, a device that delivers tumor treatment fields; NUZYRA for acute bacterial infections of the skin and skin structures and community-acquired bacterial pneumonia; and Qinlock to treat gastrointestinal stromal tumors.

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Analyst Recommendations for Zai Lab (NASDAQ: ZLAB)



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