ValuEngine Downgrades Zai Lab (NASDAQ:ZLAB) to Hold

Zai Lab (NASDAQ:ZLAB) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. Bank of America began coverage on Zai Lab in a report on Friday, July 12th. They issued a “buy” rating and a $43.00 price objective for the company. Macquarie started coverage on Zai Lab in a report on Friday, July 5th. They issued an “outperform” rating and a $36.54 price target for the company. Leerink Swann set a $47.00 price target on Zai Lab and gave the stock a “buy” rating in a report on Monday, July 15th. Zacks Investment Research downgraded Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Finally, BidaskClub downgraded Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $38.25.

NASDAQ ZLAB opened at $31.49 on Thursday. The firm has a 50-day moving average of $34.77. Zai Lab has a 12 month low of $14.29 and a 12 month high of $36.78.

Several institutional investors have recently made changes to their positions in ZLAB. FMR LLC boosted its position in 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 during the last quarter. Segantii Capital Management Ltd lifted its holdings in Zai Lab by 36.9% during the 2nd quarter. Segantii Capital Management Ltd now owns 3,288,888 shares of the company’s stock worth $114,684,000 after purchasing an additional 885,888 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in Zai Lab by 2.7% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 903,159 shares of the company’s stock worth $26,652,000 after purchasing an additional 23,519 shares during the last quarter. Tree Line Advisors Hong Kong Ltd. lifted its holdings in Zai Lab by 66.7% during the 2nd quarter. Tree Line Advisors Hong Kong Ltd. now owns 875,000 shares of the company’s stock worth $30,511,000 after purchasing an additional 350,000 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its holdings in Zai Lab by 11.7% during the 1st quarter. Federated Investors Inc. PA now owns 463,755 shares of the company’s stock worth $13,685,000 after purchasing an additional 48,755 shares during the last quarter. Institutional investors own 37.71% of the company’s stock.

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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Analyst Recommendations for Zai Lab (NASDAQ:ZLAB)

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