Wall Street Zen upgraded shares of Zai Lab (NASDAQ:ZLAB – Free Report) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.
Several other brokerages also recently commented on ZLAB. Weiss Ratings raised shares of Zai Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 29th. Citigroup increased their price target on shares of Zai Lab from $44.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Zacks Research raised shares of Zai Lab from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.25.
Read Our Latest Analysis on ZLAB
Zai Lab Trading Down 1.2%
Zai Lab (NASDAQ:ZLAB – Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported ($0.50) EPS for the quarter. Zai Lab had a negative return on equity of 27.43% and a negative net margin of 41.86%.The company had revenue of $106.31 million during the quarter. As a group, equities research analysts predict that Zai Lab will post -2.37 EPS for the current year.
Insider Buying and Selling
In other Zai Lab news, CEO Ying Du sold 7,026 shares of Zai Lab stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $18.53, for a total value of $130,191.78. Following the completion of the sale, the chief executive officer owned 1,203,784 shares of the company’s stock, valued at approximately $22,306,117.52. The trade was a 0.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William Lis sold 8,506 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.00, for a total transaction of $212,650.00. Following the sale, the director owned 41,931 shares of the company’s stock, valued at approximately $1,048,275. This represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 16,411 shares of company stock worth $365,337. 4.88% of the stock is owned by insiders.
Institutional Trading of Zai Lab
Several large investors have recently modified their holdings of ZLAB. Nykredit A S purchased a new stake in Zai Lab during the second quarter valued at $79,000. Seven Fleet Capital Management LP boosted its position in Zai Lab by 74.7% in the second quarter. Seven Fleet Capital Management LP now owns 136,016 shares of the company’s stock worth $2,584,000 after purchasing an additional 58,158 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of Zai Lab by 142.0% during the 2nd quarter. Headlands Technologies LLC now owns 68,010 shares of the company’s stock valued at $1,292,000 after purchasing an additional 39,901 shares during the period. Institutional investors own 41.65% of the company’s stock.
Zai Lab Company Profile
Zai Lab Limited is a biopharmaceutical company focused on discovering, developing and commercializing medicines for significant unmet medical needs. The company’s research and development activities have centered on oncology, autoimmune and inflammatory diseases, infectious diseases, and neuroscience. Zai Lab operates through a combination of internally developed programs and collaborations with global pharmaceutical and biotechnology companies.
The company has built a commercial portfolio in Greater China that has included ZEJULA (niraparib), a PARP inhibitor used in certain ovarian cancer settings; QINLOCK (ripretinib), a treatment for gastrointestinal stromal tumors; and NUZYRA (omadacycline), an antibiotic for certain bacterial infections.
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