Zai Laboratory (NASDAQ: ZLAB) saw its price target raised by Citigroup analysts from $ 217.00 to $ 231.00 in a research note issued to investors on Friday, Fly reports. The company currently has a “buy” rating on the stock. Citigroup’s price target suggests a potential rise of 250.37% from the company’s current price.
Several other research analysts also recently commented on ZLAB. SVB Leerink reduced its price target on Zai Lab from $ 200.00 to $ 194.00 and established an “outperformance” rating for the company in a research report released on Wednesday, November 10. Zacks investment research downgraded Zai Lab from a “keep” rating to a “sell” rating in a report released Thursday, November 4. Finally, Sanford C. Bernstein kicked off coverage on Zai Lab shares in a report on Tuesday, October 12. They set a “market performance” rating on the stock. One analyst rated the stock with a sell rating, another assigned a conservation rating, and four issued a buy rating for the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $ 222.25.
Actions of NASDAQ ZLAB traded at $ 5.51 during the midday Friday session, reaching $ 65.93. The company’s shares traded 21,024 shares, compared to its average volume of 516,052. Zai Lab has a 52-week low of $ 67.77 and a 52-week high of $ 193.54. . The stock has a 50-day simple moving average of $ 94.61 and a 200-day simple moving average of $ 133.53.
Zai Lab (NASDAQ: ZLAB) last released its results on Tuesday, November 9. The company reported ($ 1.01) earnings per share for the quarter, beating analyst consensus estimates ($ 1.24) by $ 0.23. As a group, sell-side analysts expect Zai Lab to post -6.89 EPS for the current year.
In related news, the insider Harald reinhart sold 10,000 shares of the company in a transaction that took place on Tuesday, September 7. The stock was sold for an average price of $ 150.93, for a total trade of $ 1,509,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ying Du sold 29,785 shares of the company in a transaction that took place on Tuesday, September 7. The stock was sold for an average price of $ 150.73, for a total value of $ 4,489,493.05. As a result of the transaction, the CEO now directly owns 1,038,056 shares of the company, valued at $ 156,466,180.88. Disclosure of this sale can be found here. Insiders have sold a total of 80,685 shares of the company valued at $ 10,500,357 in the past three months. 7.80% of the shares are held by insiders.
A number of hedge funds and other institutional investors have recently changed their holdings in ZLAB. Invesco Ltd. increased its position in Zai Lab shares by 232.4% during the 3rd quarter. Invesco Ltd. now owns 4,699,440 shares of the company valued at $ 495,274,000 after acquiring an additional 3,285,522 shares during the period. Viking Global Investors LP increased its position in Zai Lab shares by 90.5% during the 3rd quarter. Viking Global Investors LP now owns 2,932,456 shares of the company valued at $ 309,052,000 after acquiring an additional 1,393,199 shares during the period. FMR LLC increased its position in Zai Lab shares by 30.7% during the 2nd quarter. FMR LLC now owns 4,415,705 shares of the company valued at $ 781,536,000 after acquiring an additional 1,037,855 shares during the period. Baillie Gifford & Co. increased its position in Zai Lab shares by 21.1% during the 3rd quarter. Baillie Gifford & Co. now owns 4,895,281 shares of the company valued at $ 515,914,000 after purchasing an additional 853,991 shares during the last quarter. Finally, TT International Asset Management LTD purchased a new stake in Zai Lab shares during the 2nd quarter for a value of $ 94,171,000. 65.03% of the shares are currently held by hedge funds and other institutional investors.
Zai Lab Company Profile
Zai Lab Ltd. is a biopharmaceutical company. It engages in the discovery, licensing, development and commercialization of proprietary therapies that address unmet medical needs in the fields of oncology, infectious and autoimmune diseases. The company’s products include Zejula and Optune. The company was founded by Samantha Ying Du and Marietta Wu in April 2014 and is headquartered in Shanghai, China.
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