Cantor Fitzgerald Weighs in on Zai Lab Limited’s FY2024 Earnings (NASDAQ:ZLAB)

Zai Lab Limited (NASDAQ:ZLAB) – Stock analysts at Cantor Fitzgerald cut their FY2024 earnings per share estimates for shares of Zai Lab in a research report issued to clients and investors on Wednesday, August 7th. Cantor Fitzgerald analyst L. Chen now forecasts that the company will post earnings of ($3.16) per share for the year, down from their prior estimate of ($3.11). Cantor Fitzgerald has a “Overweight” rating on the stock. The consensus estimate for Zai Lab’s current full-year earnings is ($2.76) per share.

Zai Lab (NASDAQ:ZLAB) last released its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.93) by $0.38. Zai Lab had a negative net margin of 92.44% and a negative return on equity of 36.69%. The business had revenue of $87.15 million for the quarter, compared to the consensus estimate of $77.07 million. During the same period in the previous year, the firm earned ($0.51) EPS.

Separately, JPMorgan Chase & Co. decreased their target price on shares of Zai Lab from $43.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $58.97.

Zai Lab Price Performance

Shares of ZLAB opened at $16.26 on Friday. Zai Lab has a one year low of $13.48 and a one year high of $31.22. The company has a 50-day moving average of $18.35 and a two-hundred day moving average of $18.40. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of -4.66 and a beta of 1.06.

Insider Transactions at Zai Lab

In related news, CEO Ying Du sold 23,939 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $428,508.10. Following the transaction, the chief executive officer now owns 1,142,833 shares in the company, valued at $20,456,710.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zai Lab news, CFO Yajing Chen sold 2,154 shares of Zai Lab stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total value of $38,556.60. Following the sale, the chief financial officer now owns 13,714 shares of the company’s stock, valued at approximately $245,480.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ying Du sold 23,939 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $17.90, for a total transaction of $428,508.10. Following the transaction, the chief executive officer now owns 1,142,833 shares of the company’s stock, valued at approximately $20,456,710.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,934 shares of company stock valued at $1,116,043. Corporate insiders own 5.23% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

A number of hedge funds and other institutional investors have recently made changes to their positions in ZLAB. BNP Paribas Financial Markets grew its stake in shares of Zai Lab by 51.2% during the first quarter. BNP Paribas Financial Markets now owns 2,671 shares of the company’s stock worth $43,000 after buying an additional 904 shares during the last quarter. Sectoral Asset Management Inc. increased its holdings in Zai Lab by 33.3% in the 4th quarter. Sectoral Asset Management Inc. now owns 4,000 shares of the company’s stock worth $109,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Zai Lab by 1,923.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,550 shares of the company’s stock valued at $70,000 after purchasing an additional 2,424 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Zai Lab by 1.4% during the second quarter. TD Asset Management Inc now owns 221,970 shares of the company’s stock worth $3,847,000 after purchasing an additional 3,000 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Zai Lab by 64.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,530 shares of the company’s stock valued at $153,000 after buying an additional 3,728 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

Zai Lab Company Profile

Zai Lab Limited develops and commercializes therapies to treat oncology, autoimmune disorders, infectious diseases, and neuroscience. Its commercial products include Zejula, an orally administered poly polymerase 1/2 inhibitor; Optune, a cancer therapy that uses electric fields tuned to specific frequencies to kill tumor cells; NUZYRA for acute bacterial skin and skin structure infections, and community acquired bacterial pneumonia; Qinlock to treat gastrointestinal stromal tumors, and VYVGART, a human IgG1 antibody fragment for myesthenia gravis.