Zai Lab Ltd (NASDAQ:ZLAB) has been assigned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $37.50.
ZLAB has been the subject of a number of recent research reports. BidaskClub upgraded Zai Lab from a “hold” rating to a “buy” rating in a research report on Wednesday, December 5th. Jefferies Financial Group initiated coverage on Zai Lab in a research report on Wednesday, November 21st. They set a “buy” rating for the company. Finally, Zacks Investment Research upgraded Zai Lab from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research report on Wednesday, August 29th.
Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can acquired a new stake in shares of Zai Lab during the third quarter worth $159,000. Northern Trust Corp acquired a new stake in shares of Zai Lab during the second quarter worth $224,000. Citadel Advisors LLC acquired a new stake in shares of Zai Lab during the third quarter worth $333,000. Soros Fund Management LLC acquired a new stake in shares of Zai Lab during the third quarter worth $341,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Zai Lab during the third quarter worth $410,000. 34.48% of the stock is owned by institutional investors and hedge funds.
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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