Brokerages Set Zai Lab Ltd (ZLAB) Price Target at $33.93

Shares of Zai Lab Ltd (NASDAQ:ZLAB) have been given an average recommendation of “Buy” by the seven brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $33.93.

A number of equities analysts recently issued reports on the stock. BidaskClub raised shares of Zai Lab from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a report on Thursday, December 13th. ValuEngine upgraded shares of Zai Lab from a “hold” rating to a “buy” rating in a report on Thursday. Credit Suisse Group started coverage on shares of Zai Lab in a report on Tuesday, January 29th. They issued an “outperform” rating and a $34.70 price objective on the stock. Finally, Jefferies Financial Group started coverage on shares of Zai Lab in a report on Wednesday, November 21st. They issued a “buy” rating on the stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Zai Lab by 205.2% during the 2nd quarter. BlackRock Inc. now owns 63,368 shares of the company’s stock worth $1,473,000 after buying an additional 42,608 shares during the period. Millennium Management LLC raised its position in Zai Lab by 255.1% in the 2nd quarter. Millennium Management LLC now owns 383,885 shares of the company’s stock valued at $8,925,000 after purchasing an additional 275,794 shares during the last quarter. FMR LLC raised its position in Zai Lab by 3.9% in the 2nd quarter. FMR LLC now owns 5,055,427 shares of the company’s stock valued at $117,539,000 after purchasing an additional 188,745 shares during the last quarter. Northern Trust Corp bought a new position in Zai Lab in the 2nd quarter valued at $224,000. Finally, Bank of Montreal Can bought a new position in Zai Lab in the 3rd quarter valued at $159,000. Institutional investors and hedge funds own 34.48% of the company’s stock.

ZLAB stock traded down $1.99 during trading on Monday, reaching $28.57. The company had a trading volume of 290,800 shares, compared to its average volume of 201,464. Zai Lab has a 52 week low of $14.29 and a 52 week high of $33.86. The company has a market cap of $1.78 billion, a P/E ratio of -12.31 and a beta of 1.20.

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.

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