Shares of Zai Lab Ltd (NASDAQ:ZLAB) have earned a consensus rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $45.45.
Several research firms have recently issued reports on ZLAB. Leerink Swann set a $48.00 target price on Zai Lab and gave the company a “buy” rating in a research note on Wednesday, September 4th. ValuEngine cut shares of Zai Lab from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. BidaskClub raised shares of Zai Lab from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. China Renaissance Securities began coverage on shares of Zai Lab in a report on Wednesday, September 4th. They issued a “buy” rating for the company. Finally, Citigroup set a $65.00 target price on shares of Zai Lab and gave the stock a “buy” rating in a research report on Wednesday, September 4th.
A number of hedge funds have recently modified their holdings of ZLAB. Parallel Advisors LLC purchased a new stake in shares of Zai Lab in the 2nd quarter worth about $36,000. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Zai Lab by 0.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 199,903 shares of the company’s stock valued at $6,971,000 after purchasing an additional 1,297 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Zai Lab in the 2nd quarter worth approximately $54,000. JPMorgan Chase & Co. bought a new stake in shares of Zai Lab in the 2nd quarter worth approximately $59,000. Finally, Aperio Group LLC purchased a new stake in shares of Zai Lab in the 2nd quarter worth approximately $95,000. 63.36% of the stock is currently 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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