Bank of America Begins Coverage on Zai Lab (NASDAQ:ZLAB)

Bank of America began coverage on shares of Zai Lab (NASDAQ:ZLAB) in a research note issued to investors on Friday, Briefing.com Automated Import reports. The firm issued a buy rating and a $43.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Leerink Swann set a $453.00 target price on Regeneron Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, June 11th. BidaskClub upgraded Zai Lab from a buy rating to a strong-buy rating in a research note on Friday, June 28th. Macquarie started coverage on Baozun in a research note on Friday, July 5th. They issued a buy rating and a $60.00 target price for the company. Finally, Zacks Investment Research cut Zai Lab from a buy rating to a hold rating in a research note on Saturday, June 15th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $38.05.

ZLAB opened at $36.35 on Friday. The stock has a market cap of $2.11 billion, a PE ratio of -13.77 and a beta of 1.36. The company has a 50 day moving average price of $31.55. Zai Lab has a 52 week low of $14.29 and a 52 week high of $36.68.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in Zai Lab by 0.4% during the 1st quarter. FMR LLC now owns 5,835,589 shares of the company’s stock valued at $172,208,000 after buying an additional 25,011 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position 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 valued at $26,652,000 after buying an additional 23,519 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. increased its position in Zai Lab by 25.0% during the 1st quarter. Tree Line Advisors Hong Kong Ltd. now owns 525,000 shares of the company’s stock valued at $15,493,000 after buying an additional 105,000 shares in the last quarter. Federated Investors Inc. PA increased its position in Zai Lab by 11.7% during the 1st quarter. Federated Investors Inc. PA now owns 463,755 shares of the company’s stock valued at $13,685,000 after buying an additional 48,755 shares in the last quarter. Finally, BlackRock Inc. increased its position in Zai Lab by 306.1% during the 4th quarter. BlackRock Inc. now owns 430,710 shares of the company’s stock valued at $10,002,000 after buying an additional 324,651 shares in the last quarter. 36.19% of the stock is owned by institutional investors.

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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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