Zai Lab Ltd (NASDAQ:ZLAB) Receives Average Rating of “Buy” from Analysts
Zai Lab Ltd (NASDAQ:ZLAB) has received an average rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.08.
ZLAB has been the topic of several research reports. Zacks Investment Research downgraded shares of Zai Lab from a “buy” rating to a “hold” rating in a research note on Saturday, June 15th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Macquarie initiated coverage on shares of Baozun in a research note on Friday, July 5th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, Leerink Swann set a $453.00 price target on shares of Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, June 11th.
Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new stake in Zai Lab during the fourth quarter worth about $65,000. Bank of America Corp DE increased its position in Zai Lab by 20.3% during the fourth quarter. Bank of America Corp DE now owns 6,528 shares of the company’s stock worth $151,000 after purchasing an additional 1,103 shares during the last quarter. RBF Capital LLC acquired a new stake in Zai Lab during the fourth quarter worth about $348,000. California Public Employees Retirement System increased its position in Zai Lab by 15.7% during the fourth quarter. California Public Employees Retirement System now owns 32,273 shares of the company’s stock worth $749,000 after purchasing an additional 4,372 shares during the last quarter. Finally, Baillie Gifford & Co. acquired a new stake in Zai Lab during the first quarter worth about $1,260,000. Hedge funds and other institutional investors own 36.19% of the company’s stock.
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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