Zai Lab Ltd (NASDAQ:ZLAB) Receives $45.45 Average Target Price from Brokerages

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.

A number of institutional investors have recently modified their holdings of the business. Segantii Capital Management Ltd grew its stake in Zai Lab by 1.3% during the third quarter. Segantii Capital Management Ltd now owns 3,330,000 shares of the company’s stock worth $107,726,000 after buying an additional 41,112 shares during the last quarter. Bamco Inc. NY grew its stake in Zai Lab by 10.1% during the second quarter. Bamco Inc. NY now owns 2,199,418 shares of the company’s stock worth $76,694,000 after buying an additional 201,326 shares during the last quarter. Baillie Gifford & Co. grew its stake in Zai Lab by 4,786.1% during the second quarter. Baillie Gifford & Co. now owns 2,086,383 shares of the company’s stock worth $72,752,000 after buying an additional 2,043,683 shares during the last quarter. Vanguard Group Inc. grew its stake in Zai Lab by 17.3% during the second quarter. Vanguard Group Inc. now owns 1,141,587 shares of the company’s stock worth $39,807,000 after buying an additional 168,643 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Zai Lab by 31.8% during the second quarter. BlackRock Inc. now owns 915,734 shares of the company’s stock worth $31,932,000 after buying an additional 220,889 shares during the last quarter. 60.06% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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