Zai Lab (NASDAQ:ZLAB) Upgraded to Buy at BidaskClub

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Zai Lab (NASDAQ:ZLAB) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

Several other research firms have also recently weighed in on ZLAB. ValuEngine cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Citigroup upped their price objective on shares of Zai Lab from $65.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, December 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $46.04.

Shares of ZLAB stock traded down $2.18 during trading on Tuesday, hitting $49.56. The company had a trading volume of 28,810 shares, compared to its average volume of 188,520. The stock’s 50-day moving average is $40.92 and its two-hundred day moving average is $36.12. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -18.56 and a beta of 1.40. Zai Lab has a 52 week low of $23.42 and a 52 week high of $52.43.

Several hedge funds have recently bought and sold shares of the stock. Segantii Capital Management Ltd increased its position in shares of Zai Lab by 1.3% in the third quarter. Segantii Capital Management Ltd now owns 3,330,000 shares of the company’s stock worth $107,726,000 after purchasing an additional 41,112 shares during the last quarter. Bamco Inc. NY grew its position in Zai Lab by 10.1% during the second quarter. Bamco Inc. NY now owns 2,199,418 shares of the company’s stock valued at $76,694,000 after acquiring an additional 201,326 shares during the last quarter. Gilder Gagnon Howe & Co. LLC grew its position in Zai Lab by 3.3% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 1,202,826 shares of the company’s stock valued at $38,911,000 after acquiring an additional 38,940 shares during the last quarter. Vanguard Group Inc. grew its position 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 acquiring an additional 168,643 shares during the last quarter. Finally, BlackRock Inc. grew its position in Zai Lab by 31.8% during the second quarter. BlackRock Inc. now owns 915,734 shares of the company’s stock valued at $31,932,000 after acquiring an additional 220,889 shares during the last quarter. Institutional investors own 63.75% of the company’s stock.

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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