Zai Lab (NASDAQ:ZLAB) Given New $32.00 Price Target at JPMorgan Chase & Co.

Zai Lab (NASDAQ:ZLAB) had its target price reduced by stock analysts at JPMorgan Chase & Co. from $39.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 69.09% from the stock’s current price.

ZLAB has been the subject of a number of other reports. Zacks Research lowered shares of Zai Lab from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Cantor Fitzgerald dropped their target price on shares of Zai Lab from $55.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Jefferies Financial Group upgraded shares of Zai Lab to a “strong-buy” rating in a report on Monday, January 19th. UBS Group began coverage on shares of Zai Lab in a research report on Wednesday, January 7th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Zai Lab in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Zai Lab currently has an average rating of “Moderate Buy” and an average price target of $50.00.

Zai Lab Stock Performance

Shares of NASDAQ ZLAB traded down $0.10 during trading on Wednesday, hitting $18.93. The company had a trading volume of 198,710 shares, compared to its average volume of 710,860. Zai Lab has a 52 week low of $15.96 and a 52 week high of $44.34. The business’s 50-day moving average is $18.69 and its 200 day moving average is $22.87. The company has a market cap of $2.13 billion, a P/E ratio of -11.75 and a beta of 0.85.

Zai Lab (NASDAQ:ZLAB) last issued its earnings results on Thursday, February 26th. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.02). Zai Lab had a negative return on equity of 22.81% and a negative net margin of 38.15%.The company had revenue of $127.60 million during the quarter, compared to analyst estimates of $122.67 million. On average, research analysts expect that Zai Lab will post -2.58 EPS for the current year.

Insider Buying and Selling

In related news, CFO Yajing Chen sold 1,703 shares of Zai Lab stock in a transaction on Friday, March 13th. The stock was sold at an average price of $18.63, for a total transaction of $31,726.89. Following the completion of the sale, the chief financial officer owned 19,999 shares of the company’s stock, valued at approximately $372,581.37. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rafael Amado sold 2,957 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $18.63, for a total value of $55,088.91. Following the completion of the transaction, the insider owned 44,757 shares in the company, valued at $833,822.91. This trade represents a 6.20% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 17,413 shares of company stock worth $311,460. Corporate insiders own 4.96% of the company’s stock.

Institutional Investors Weigh In On Zai Lab

An institutional investor recently raised its position in Zai Lab stock. SG Americas Securities LLC boosted its holdings in shares of Zai Lab Limited Unsponsored ADR (NASDAQ:ZLAB) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,396 shares of the company’s stock after acquiring 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 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.