Zai Lab Ltd (ZLAB) Receives $35.90 Consensus PT from Brokerages

Zai Lab Ltd (NASDAQ:ZLAB) has been assigned an average rating of “Buy” from the six analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $35.90.

Several research firms recently issued reports on ZLAB. BidaskClub raised Zai Lab from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised Zai Lab from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Saturday, May 11th.

ZLAB stock traded up $0.15 during midday trading on Wednesday, hitting $27.20. The company’s stock had a trading volume of 171,411 shares, compared to its average volume of 284,862. The stock has a market capitalization of $1.57 billion, a PE ratio of -10.30 and a beta of 1.07. Zai Lab has a 12 month low of $14.29 and a 12 month high of $33.86.

A number of hedge funds have recently added to or reduced their stakes in ZLAB. Vanguard Group Inc bought a new position in Zai Lab in the 3rd quarter valued at approximately $14,955,000. Vanguard Group Inc. bought a new position in Zai Lab in the 3rd quarter valued at approximately $14,955,000. Wells Fargo & Company MN lifted its position in Zai Lab by 3,716.0% in the 1st quarter. Wells Fargo & Company MN now owns 465,546 shares of the company’s stock valued at $13,738,000 after acquiring an additional 453,346 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new position in Zai Lab in the 4th quarter valued at approximately $9,752,000. Finally, BlackRock Inc. raised its stake in Zai Lab by 306.1% during the 4th quarter. BlackRock Inc. now owns 430,710 shares of the company’s stock valued at $10,002,000 after buying an additional 324,651 shares during the last quarter. 36.62% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: Technical Indicators – What is a Golden Cross?

Receive News & Ratings for Zai Lab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zai Lab and related companies with MarketBeat.com's FREE daily email newsletter.