JPMorgan Chase & Co. Cuts Zai Lab (NASDAQ:ZLAB) Price Target to $39.00

Zai Lab (NASDAQ:ZLAB) had its target price reduced by investment analysts at JPMorgan Chase & Co. from $46.00 to $39.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 129.68% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a research note on Monday, January 19th. Finally, UBS Group started coverage on Zai Lab in a research report on Wednesday, January 7th. They set a “buy” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Zai Lab Stock Performance

Zai Lab stock traded down $0.02 during midday trading on Thursday, hitting $16.98. 822,471 shares of the company’s stock were exchanged, compared to its average volume of 860,216. Zai Lab has a 12 month low of $15.96 and a 12 month high of $44.34. The company has a market cap of $1.90 billion, a PE ratio of -8.71 and a beta of 0.88. The firm has a 50-day moving average of $18.22 and a two-hundred day moving average of $26.36.

Zai Lab (NASDAQ:ZLAB) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.05). The business had revenue of $116.10 million for the quarter, compared to analysts’ expectations of $150.24 million. Zai Lab had a negative net margin of 46.83% and a negative return on equity of 25.83%. As a group, equities analysts expect that Zai Lab will post -2.58 earnings per share for the current year.

Insider Activity

In other news, insider Rafael Amado sold 10,787 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $17.43, for a total value of $188,017.41. Following the completion of the transaction, the insider directly owned 52,391 shares in the company, valued at $913,175.13. This trade represents a 17.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Zai Lab stock. SG Americas Securities LLC raised its holdings in Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,396 shares of the company’s stock after purchasing an additional 642 shares during the quarter. SG Americas Securities LLC’s holdings in Zai Lab were worth $183,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 41.65% of the company’s stock.

Zai Lab Company Profile

Zai Lab Ltd (NASDAQ: ZLAB) is a biopharmaceutical company focused on the research, development, manufacturing and commercialization of innovative therapies. Headquartered in Shanghai, China, Zai Lab operates R&D centers in Asia and the United States and maintains commercial offices across Greater China, North America, Europe and Australia. The company’s end-to-end platform encompasses discovery biology, translational development, clinical research and global supply chain management.

The company’s marketed portfolio is anchored by Brukinsa (zanubrutinib), a next-generation Bruton’s tyrosine kinase inhibitor approved for several B-cell malignancies.