Zai Lab (NASDAQ:ZLAB) Price target raised to $199.00 at Citigroup

Zai Lab (NASDAQ:ZLAB – Get Rating) had its price target raised by Citigroup to $199.00 in a research report on Monday, Stock Target Advisor reports.

Separately, SVB Leerink reduced its price target on Zai Lab from $102.00 to $101.00 and set an outperform rating for the company in a Thursday, April 21 research note. One analyst rated the stock with a hold rating and four gave the company a buy rating. Based on MarketBeat data, Zai Lab has a Moderate Buy consensus rating and an average target price of $119.00.

Zai Lab trades up 3.6%

ZLAB opened at $45.78 on Monday. Zai Lab has a 12-month low of $22.51 and a 12-month high of $152.82. The company’s 50-day simple moving average is $37.14 and its 200-day simple moving average is $40.22. The company has a market capitalization of $4.48 billion, a price-earnings ratio of -8.25 and a beta of 1.06.

Institutional entries and exits

Institutional investors and hedge funds have recently changed their positions in the company. Invesco Ltd. increased its position in Zai Lab shares by 13.9% in the 1st quarter. Invesco Ltd. now owns 8,258,118 shares of the company valued at $363,192,000 after purchasing an additional 1,006,575 shares during the period. BlackRock Inc. increased its stake in Zai Lab shares by 6.3% during the 1st quarter. BlackRock Inc. now owns 3,924,215 shares of the company worth $172,587,000 after purchasing an additional 231,759 shares last quarter. Viking Global Investors LP increased its stake in Zai Lab shares by 3.8% during the 1st quarter. Viking Global Investors LP now owns 3,133,297 shares of the company worth $137,802,000 after purchasing an additional 114,339 shares in the last quarter. Credit Suisse AG increased its holdings of Zai Lab shares by 98.2% in the 4th quarter. Credit Suisse AG now owns 2,928,592 shares of the company worth $184,062,000 after acquiring an additional 1,450,960 shares during the period. Finally, Vanguard Group Inc. increased its equity stake in Zai Lab by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 2,255,435 shares of the company worth $99,195,000 after acquiring an additional 55,132 shares during the period. 72.65% of the shares are held by institutional investors and hedge funds.

Zai Lab Company Profile

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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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