Brokerages Set Zai Lab Ltd (ZLAB) PT at $37.50

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Zai Lab Ltd (NASDAQ:ZLAB) has been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $37.50.

ZLAB has been the subject of several recent research reports. BidaskClub cut Zai Lab from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Zai Lab in a report on Thursday, June 28th.

Shares of NASDAQ:ZLAB traded down $0.97 during midday trading on Monday, hitting $18.25. The company had a trading volume of 195,914 shares, compared to its average volume of 127,039. Zai Lab has a twelve month low of $17.17 and a twelve month high of $35.74. The stock has a market cap of $1.13 billion and a PE ratio of -7.87.

Several large investors have recently bought and sold shares of the stock. Northern Trust Corp acquired a new stake in shares of Zai Lab in the second quarter valued at approximately $224,000. FMR LLC increased its stake in Zai Lab by 3.9% during the second quarter. FMR LLC now owns 5,055,427 shares of the company’s stock worth $117,539,000 after acquiring an additional 188,745 shares during the last quarter. Millennium Management LLC increased its stake in Zai Lab by 255.1% during the second quarter. Millennium Management LLC now owns 383,885 shares of the company’s stock worth $8,925,000 after acquiring an additional 275,794 shares during the last quarter. Orbimed Advisors LLC increased its stake in Zai Lab by 144.8% during the second quarter. Orbimed Advisors LLC now owns 1,611,000 shares of the company’s stock worth $37,456,000 after acquiring an additional 952,840 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Zai Lab by 205.2% during the second quarter. BlackRock Inc. now owns 63,368 shares of the company’s stock worth $1,473,000 after acquiring an additional 42,608 shares during the last quarter. 21.21% of the stock is owned by hedge funds and other institutional investors.

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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