Zai Lab (ZLAB) Upgraded at BidaskClub

BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

Several other equities research analysts have also commented on ZLAB. Zacks Investment Research upgraded Zai Lab from a sell rating to a hold rating in a research note on Saturday, April 13th. ValuEngine upgraded Zai Lab from a hold rating to a buy rating in a research note on Thursday, February 7th. Finally, Credit Suisse Group began coverage on Zai Lab in a research note on Tuesday, January 29th. They set an outperform rating and a $34.70 price objective for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $35.90.

NASDAQ:ZLAB opened at $27.05 on Tuesday. Zai Lab has a 12 month low of $14.29 and a 12 month high of $33.86. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -10.25 and a beta of 1.07.

A number of large investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC increased its stake in Zai Lab by 2.7% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock worth $26,652,000 after buying an additional 23,519 shares in the last quarter. FMR LLC increased its stake in Zai Lab by 0.4% during the 1st quarter. FMR LLC now owns 5,835,589 shares of the company’s stock worth $172,208,000 after buying an additional 25,011 shares in the last quarter. Morgan Stanley increased its stake in Zai Lab by 69.3% during the 1st quarter. Morgan Stanley now owns 12,073 shares of the company’s stock worth $356,000 after buying an additional 4,942 shares in the last quarter. Oxford Asset Management LLP increased its stake in Zai Lab by 23.3% during the 1st quarter. Oxford Asset Management LLP now owns 33,238 shares of the company’s stock worth $981,000 after buying an additional 6,278 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Zai Lab by 662.7% during the 1st quarter. Renaissance Technologies LLC now owns 167,800 shares of the company’s stock worth $4,952,000 after buying an additional 145,800 shares in the last quarter. Institutional investors own 36.62% of the company’s stock.

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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