Zai Lab Ltd (NASDAQ:ZLAB) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $45.45.
A number of analysts recently weighed in on the stock. Citigroup set a $65.00 target price on shares of Zai Lab and gave the company a “buy” rating in a research note on Wednesday, September 4th. China Renaissance Securities assumed coverage on shares of Zai Lab in a research note on Wednesday, September 4th. They issued a “buy” rating on the stock. ValuEngine cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Bank of America assumed coverage on shares of Zai Lab in a research note on Friday, July 12th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Zacks Investment Research raised shares of Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, September 14th.
Zai Lab stock traded up $0.27 on Wednesday, reaching $37.60. 106,700 shares of the stock were exchanged, compared to its average volume of 190,943. The stock has a market cap of $2.14 billion, a PE ratio of -14.24 and a beta of 1.33. The firm has a fifty day moving average price of $33.36 and a two-hundred day moving average price of $32.25. Zai Lab has a twelve month low of $16.23 and a twelve month high of $38.44.
About Zai Lab
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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