Brokerages Set $37.00 Price Target for Zai Lab Ltd (ZLAB)

Zai Lab Ltd (NASDAQ:ZLAB) has been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Analysts have set a 1-year consensus price target of $37.00 for the company and are forecasting that the company will post ($0.17) EPS for the current quarter, according to Zacks. Zacks has also assigned Zai Lab an industry rank of 190 out of 265 based on the ratings given to related companies.

ZLAB has been the topic of several recent analyst reports. BidaskClub upgraded Zai Lab from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. initiated coverage on Zai Lab in a research report on Monday, October 16th. They set a “neutral” rating and a $32.00 target price on the stock. Leerink Swann initiated coverage on Zai Lab in a research report on Monday, October 16th. They set an “outperform” rating and a $42.00 target price on the stock. Finally, Citigroup initiated coverage on Zai Lab in a research report on Monday, October 16th. They set a “buy” rating on the stock.

Zai Lab (ZLAB) traded down $0.41 during midday trading on Wednesday, reaching $25.98. The company had a trading volume of 48,288 shares, compared to its average volume of 67,238. Zai Lab has a 1 year low of $20.67 and a 1 year high of $35.74.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP purchased a new position in shares of Zai Lab in the 3rd quarter worth about $137,000. Pinebridge Investments L.P. purchased a new position in shares of Zai Lab in the 3rd quarter worth about $945,000. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Zai Lab by 64.9% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 917,123 shares of the company’s stock worth $19,471,000 after purchasing an additional 360,801 shares during the period. Hedge funds and other institutional investors own 18.24% of the company’s stock.

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Zai Lab Company Profile

Zai Lab Ltd, incorporated on March 28, 2017, is a biopharmaceutical company. The Company is focused on discovering or licensing, developing and commercializing proprietary therapeutics that address areas of large unmet medical need in the China market, including in the fields of oncology, autoimmune and infectious diseases.

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