Zai Lab Ltd (NASDAQ:ZLAB) Receives Average Recommendation of “Buy” from Brokerages

Shares of Zai Lab Ltd (NASDAQ:ZLAB) have been given a consensus recommendation of “Buy” by the six analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $36.90.

A number of analysts have issued reports on ZLAB shares. BidaskClub cut shares of Zai Lab from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. Zacks Investment Research upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Finally, Leerink Swann set a $46.00 price target on shares of Zai Lab and gave the company a “buy” rating in a research report on Tuesday.

Several large investors have recently added to or reduced their stakes in the company. Citigroup Inc. acquired a new stake in Zai Lab during the 1st quarter valued at $40,000. Legal & General Group Plc purchased a new stake in Zai Lab in the 3rd quarter worth approximately $42,000. Barclays PLC purchased a new stake in Zai Lab in the 4th quarter worth approximately $65,000. Bank of America Corp DE lifted its holdings in Zai Lab by 20.3% in the 4th quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after buying an additional 1,103 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Zai Lab by 18.5% in the 4th quarter. Bank of Montreal Can now owns 9,692 shares of the company’s stock worth $225,000 after buying an additional 1,512 shares during the period. 36.39% of the stock is currently owned by institutional investors.

NASDAQ ZLAB traded up $0.27 during trading on Friday, reaching $31.47. The company’s stock had a trading volume of 137,235 shares, compared to its average volume of 196,762. The stock has a market capitalization of $1.78 billion, a PE ratio of -11.92 and a beta of 0.96. Zai Lab has a 1-year low of $14.29 and a 1-year high of $33.86.

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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