Analysts Set Zai Lab Ltd (NASDAQ:ZLAB) Price Target at $45.45

Zai Lab Ltd (NASDAQ:ZLAB) has been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $45.45.

A number of brokerages have issued reports on ZLAB. BidaskClub raised shares of Zai Lab from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. China Renaissance Securities initiated coverage on shares of Zai Lab in a research report on Wednesday, September 4th. They set a “buy” rating on the stock. Zacks Investment Research raised Zai Lab from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. ValuEngine downgraded Zai Lab from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Leerink Swann set a $48.00 target price on Zai Lab and gave the company a “buy” rating in a research report on Wednesday, September 4th.

Shares of ZLAB stock opened at $40.51 on Friday. The firm has a 50-day moving average of $36.32 and a 200-day moving average of $33.57. The company has a market cap of $2.31 billion, a P/E ratio of -15.34 and a beta of 1.40. Zai Lab has a one year low of $18.57 and a one year high of $40.51.

Several institutional investors and hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. grew its stake in shares of Zai Lab by 4,786.1% during the 2nd quarter. Baillie Gifford & Co. now owns 2,086,383 shares of the company’s stock worth $72,752,000 after acquiring an additional 2,043,683 shares during the period. Morgan Stanley lifted its holdings in Zai Lab by 94.5% during the second quarter. Morgan Stanley now owns 23,488 shares of the company’s stock valued at $819,000 after purchasing an additional 11,415 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Zai Lab by 17.3% during the second quarter. Vanguard Group Inc. now owns 1,141,587 shares of the company’s stock valued at $39,807,000 after purchasing an additional 168,643 shares during the last quarter. Matthews International Capital Management LLC boosted its position in Zai Lab by 34.7% during the third quarter. Matthews International Capital Management LLC now owns 81,600 shares of the company’s stock worth $2,640,000 after purchasing an additional 21,000 shares during the period. Finally, Advisors Preferred LLC bought a new position in Zai Lab during the second quarter worth about $54,000. Hedge funds and other institutional investors own 63.36% 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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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