Zai Lab (ZLAB) Upgraded at BidaskClub

BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a hold rating to a buy rating in a report issued on Friday morning.

ZLAB has been the subject of several other research reports. ValuEngine upgraded shares of Zai Lab from a sell rating to a hold rating in a report on Wednesday, May 2nd. Leerink Swann restated an outperform rating on shares of Zai Lab in a report on Friday, March 23rd. Finally, JPMorgan Chase upgraded shares of Zai Lab from a neutral rating to an overweight rating and set a $32.00 price target for the company in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $37.00.

Zai Lab stock opened at $20.04 on Friday. Zai Lab has a 52-week low of $17.85 and a 52-week high of $35.74.

Several hedge funds have recently made changes to their positions in ZLAB. Gilder Gagnon Howe & Co. LLC grew its position in shares of Zai Lab by 64.9% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 917,123 shares of the company’s stock worth $19,471,000 after buying an additional 360,801 shares during the period. Segantii Capital Management Ltd grew its position in shares of Zai Lab by 68.7% during the 4th quarter. Segantii Capital Management Ltd now owns 382,769 shares of the company’s stock worth $8,126,000 after buying an additional 155,912 shares during the period. Hudson Bay Capital Management LP grew its position in shares of Zai Lab by 71.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 164,574 shares of the company’s stock worth $3,494,000 after buying an additional 68,729 shares during the period. Bamco Inc. NY acquired a new stake in shares of Zai Lab during the 1st quarter worth approximately $1,452,000. Finally, Millennium Management LLC grew its position in shares of Zai Lab by 118.1% during the 1st quarter. Millennium Management LLC now owns 108,091 shares of the company’s stock worth $2,308,000 after buying an additional 58,536 shares during the period. 20.49% of the stock is owned by institutional investors.

About Zai Lab

Zai Lab Limited, a biopharmaceutical company, engages in discovering or licensing, developing, and commercializing proprietary therapeutics for oncology, and autoimmune and infectious disease therapies in China. Its drug candidates include ZL-2306, a poly ADP ribose polymerase 1/2 inhibitor for the treatment of ovarian, breast, and lung cancers; ZL-2401, an antibiotic for the treatment of acute bacterial skin/skin structure infections, community-acquired bacterial pneumonias, and urinary tract infections; ZL-2301 that is Phase II clinical trial for the treatment of hepatocellular carcinoma; ZL-3101, a novel steroid-sparing topical product that is in Phase II clinical trial for the treatment of eczema and psoriasis; ZL-2302 for the treatment of non-small cell lung cancer; and ZL-1101, an anti-OX40 antagonistic antibody for the treatment of graft-versus-host disease or systemic lupus erythematosus.

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