Zai Lab (NASDAQ:ZLAB) Given New $44.00 Price Target at JPMorgan Chase & Co.

Zai Lab (NASDAQ:ZLAB) had its price target lifted by JPMorgan Chase & Co. from $38.00 to $44.00 in a research note released on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Zai Lab in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $57.71.

Zai Lab Price Performance

Shares of NASDAQ:ZLAB opened at $33.18 on Monday. Zai Lab has a one year low of $13.48 and a one year high of $36.60. The company has a 50 day moving average of $22.35 and a 200-day moving average of $19.36. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of -9.51 and a beta of 1.08.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.66) by ($0.16). Zai Lab had a negative return on equity of 37.96% and a negative net margin of 92.44%. The business had revenue of $100.50 million for the quarter, compared to analyst estimates of $94.46 million. Equities research analysts anticipate that Zai Lab will post -2.94 earnings per share for the current year.

Insider Buying and Selling at Zai Lab

In other Zai Lab news, insider Joshua L. Smiley sold 4,352 shares of Zai Lab stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $16.67, for a total value of $72,547.84. Following the transaction, the insider now owns 43,232 shares of the company’s stock, valued at approximately $720,677.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.23% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ZLAB. Hennion & Walsh Asset Management Inc. lifted its stake in Zai Lab by 35.8% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 63,169 shares of the company’s stock valued at $1,012,000 after buying an additional 16,659 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Zai Lab by 51.2% in the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock valued at $43,000 after buying an additional 904 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Zai Lab by 313.5% in the first quarter. GSA Capital Partners LLP now owns 45,573 shares of the company’s stock worth $730,000 after purchasing an additional 34,552 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Zai Lab in the first quarter worth $64,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Zai Lab by 51.1% in the first quarter. Russell Investments Group Ltd. now owns 293,783 shares of the company’s stock worth $4,706,000 after purchasing an additional 99,355 shares in the last quarter. Institutional investors own 41.65% of the company’s stock.

About Zai Lab

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.