BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a research report released on Tuesday morning, BidAskClub reports.
A number of other analysts have also recently issued reports on the company. Credit Suisse Group initiated coverage on Zai Lab in a research report on Tuesday, January 29th. They issued an outperform rating and a $34.70 price objective for the company. ValuEngine raised Zai Lab from a hold rating to a buy rating in a research report on Thursday, February 7th. Finally, Zacks Investment Research cut Zai Lab from a hold rating to a sell rating in a research report on Saturday, April 20th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $35.90.
ZLAB opened at $28.01 on Tuesday. Zai Lab has a 12-month low of $14.29 and a 12-month high of $33.86. The company has a market capitalization of $1.62 billion, a PE ratio of -10.61 and a beta of 1.07.
Several hedge funds and other institutional investors have recently made changes to their positions in ZLAB. Citigroup Inc. bought a new position in shares of Zai Lab during the first quarter worth approximately $40,000. Legal & General Group Plc bought a new position in Zai Lab during the 3rd quarter worth $42,000. Barclays PLC bought a new position in Zai Lab during the 4th quarter worth $65,000. Bank of America Corp DE increased its stake in Zai Lab by 20.3% during the 4th quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after acquiring an additional 1,103 shares during the period. Finally, Bank of Montreal Can increased its stake in Zai Lab by 18.5% during the 4th quarter. Bank of Montreal Can now owns 9,692 shares of the company’s stock worth $225,000 after acquiring an additional 1,512 shares during the period. Institutional investors own 36.62% of the company’s stock.
Zai Lab Company Profile
Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics that address medical needs in the fields of oncology, and autoimmune and infectious disease therapies in the People's Republic of China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor, which is in Phase III clinical trial for the treatment of ovarian, lung, and breast cancers; ZL-2401, an antibiotic that is in Phase III clinical trial to treat ABSSSI, CABP, and UTI; FPA144, a humanized monoclonal antibody, which is in Phase I/III clinical trial to treat gastric and gastroesophageal cancer; ETX2514, a novel ß-lactamase inhibitor that is in Phase II cUTI trial for the treatment of acinetobacter baumannii; and ZL-2301, which is in Phase III clinical trial to treat HCC.
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