Zai Lab (NASDAQ:ZLAB) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
Several other equities research analysts have also recently weighed in on ZLAB. JPMorgan Chase & Co. upgraded Zai Lab from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Wednesday, February 14th. Leerink Swann restated an “outperform” rating on shares of Zai Lab in a research note on Friday, March 23rd. ValuEngine upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded Zai Lab from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.00.
ZLAB stock opened at $23.39 on Friday. The company has a market cap of $1.23 billion and a P/E ratio of -10.08. Zai Lab has a fifty-two week low of $17.85 and a fifty-two week high of $35.74.
Hedge funds and other institutional investors have recently modified their holdings of the business. Martin Currie Ltd. purchased a new stake in Zai Lab in the fourth quarter valued at approximately $178,000. MYDA Advisors LLC purchased a new stake in Zai Lab in the fourth quarter valued at approximately $255,000. Platinum Investment Management Ltd. purchased a new stake in Zai Lab in the fourth quarter valued at approximately $424,000. BlackRock Inc. lifted its stake in Zai Lab by 4,472.7% in the first quarter. BlackRock Inc. now owns 20,760 shares of the company’s stock valued at $443,000 after buying an additional 20,306 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd lifted its stake in Zai Lab by 28.0% in the fourth quarter. NINE MASTS CAPITAL Ltd now owns 64,000 shares of the company’s stock valued at $1,359,000 after buying an additional 14,000 shares during the last quarter. Institutional investors own 21.18% of the company’s stock.
About Zai Lab
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics for oncology, and autoimmune and infectious disease therapies in China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor for the treatment of ovarian, breast, and lung cancers; ZL-2401, an antibiotic for the treatment of acute bacterial skin/skin structure infections, community-acquired bacterial pneumonias, and urinary tract infections; ZL-2301 that is Phase II clinical trial for the treatment of hepatocellular carcinoma; ZL-3101, a novel steroid-sparing topical product that is in Phase II clinical trial for the treatment of eczema and psoriasis; ZL-2302 for the treatment of non-small cell lung cancer; and ZL-1101, an anti-OX40 antagonistic antibody for the treatment of graft-versus-host disease or systemic lupus erythematosus.
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