Research analysts at Bank of America assumed coverage on shares of Zai Lab (NASDAQ:ZLAB) in a report released on Friday, MarketBeat.com reports. The firm set a “buy” rating on the stock.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Macquarie initiated coverage on Baozun in a report on Friday, July 5th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Leerink Swann set a $453.00 target price on Regeneron Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, June 11th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $36.81.

Shares of NASDAQ:ZLAB opened at $36.35 on Friday. Zai Lab has a 1 year low of $14.29 and a 1 year high of $36.68. The stock’s fifty day moving average price is $31.55. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -13.77 and a beta of 1.36.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC bought a new position in Zai Lab during the fourth quarter valued at about $65,000. Bank of America Corp DE increased its stake in shares of Zai Lab by 20.3% in 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 period. RBF Capital LLC bought a new position in shares of Zai Lab in the fourth quarter worth about $348,000. California Public Employees Retirement System increased its stake in shares of Zai Lab by 15.7% in 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 period. Finally, Baillie Gifford & Co. bought a new position in shares of Zai Lab in the first quarter worth about $1,260,000. Institutional investors own 36.19% 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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