Zai Lab (ZLAB) Upgraded to Hold at BidaskClub

BidaskClub upgraded shares of Zai Lab (NASDAQ:ZLAB) from a sell rating to a hold rating in a report released on Tuesday, BidAskClub reports.

Other analysts have also issued reports about the company. Zacks Investment Research raised Zai Lab from a sell rating to a hold rating in a research note on Saturday, April 13th. ValuEngine raised Zai Lab from a hold rating to a buy rating in a research note on Thursday, February 7th. Finally, Credit Suisse Group assumed coverage on Zai Lab in a research note on Tuesday, January 29th. They issued an outperform rating and a $34.70 price objective on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $35.90.

NASDAQ:ZLAB opened at $27.20 on Tuesday. The stock has a market capitalization of $1.65 billion, a P/E ratio of -10.30 and a beta of 1.07. Zai Lab has a twelve month low of $14.29 and a twelve month high of $33.86.

Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Zai Lab by 0.4% during the first quarter. FMR LLC now owns 5,835,589 shares of the company’s stock valued at $172,208,000 after purchasing an additional 25,011 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Zai Lab by 2.7% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock valued at $26,652,000 after purchasing an additional 23,519 shares in the last quarter. Vanguard Group Inc. acquired a new stake in shares of Zai Lab during the third quarter valued at about $14,955,000. Vanguard Group Inc acquired a new stake in shares of Zai Lab during the third quarter valued at about $14,955,000. Finally, BlackRock Inc. boosted its stake in shares of Zai Lab by 61.3% during the first quarter. BlackRock Inc. now owns 694,845 shares of the company’s stock valued at $20,505,000 after purchasing an additional 264,135 shares in the last quarter. 36.62% of the stock is currently owned by hedge funds and other 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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